Issues of Internal Audit Value-Creating Measurement in the Banking System
The purpose of an internal audit in the banking system is to assess the effectiveness of internal control and the compliance of operational directions with regulatory standards. Here, the importance of internal control policies is emphasized, which are used to protect bank assets, prevent fraud, and ensure accurate financial reporting. Traditionally, internal auditors assess the adequacy and effectiveness of this control and, if necessary, suggest improvements. However, currently, assessments of the resulting activities of internal audit are also emphasized. In this regard, research questions arise about how the resulting activities of internal audit in commercial banks will be recognized, how they will become measurable in the banking system, and how they will be managed by corporate governance. The answers to these questions were presented in the research by formulating the results of the progress of internal audit activities, assessing the actual achievements of key results of banking activities as a result of the impact of internal audit, and recording deviations of actual achievements from the goals set for key indicators of progress. As a final result of the research, the proposal of a valuecreating index by internal audit was presented, which creates an opportunity to assess the reduction of cybersecurity risks as a result of audit activities, the protection of bank assets, the degree of consistency with ESG principles, the implementation of corporate social responsibility by commercial banks, and the growth of the reputation of the banking business.