Importance The control over audit activity quality at the organizational level remains relevant due to the introduced requirements of the Russian law to implement internal control at all business organizations. The subject of the study is the internal quality control of audit activity. Objectives The objective is to develop methodological and practical recommendations on the functioning of the system of internal quality control of audit activity. Methods Based on the systems approach, the requirements of International and Federal Standards on Auditing, and the Informational Letter of the Ministry of Finance of the Russian Federation № ПЗ-11/2013, I have developed a model of internal quality control of audit activity and provided recommendations on practical implementation of the model. Results The model takes into consideration the requirements of revised Federal Laws On Audit activity and On Accounting. The Standard Regulation on internal control of audit quality in audit organizations describes procedures for internal quality control by the elements of internal structure of the model, and includes the process of the model evaluation. The developed model of internal quality control of audit activity includes practical recommendations. Small audit organizations may use the model without any additional expenses (in terms of developing the methodological basis and the process of functioning) to exercise internal quality control of their operations. Conclusions and Relevance The functioning of the proposed system of internal quality control of audit activity will provide a comprehensive idea about work quality; minimize the expenses of developing the methodological basis and the process of functioning of the internal quality control system, and give reasonable assurance that the audit organization complies with statutory requirements.
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