Subject. Transformation of the internal audit system. Objectives. Development of a model that integrates internal audit into the innovation cycle and allows overcoming the paradox between the need for rapid innovation implementation and the increase in risks. Methods. Systematic and comparative analyses. Results. Key competencies (strategic thinking, digital literacy) and organizational conditions (independence, collaboration orientation, flexible planning) necessary for the transformation of the internal audit system have been identified. A comprehensive role model has been developed that synchronizes the actions of the internal audit service with the phases of the innovation cycle (from idea to monitoring). To assess the effectiveness of the internal audit function, a system of metrics has been proposed that shifts the focus from control functions to value creation. Conclusions. The success of implementing the developed model depends on the maturity of the corporate governance system. The balance between manageability and support for transformations contributes to ensuring the long-term sustainability and competitiveness of the company in a dynamic environment.
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