Internal audit in Kazakhstan: conditions of economic instability and additional risks

Abstract

The improvement of the internal audit system in banks is a priority task of the second-level Bank management. The purpose of the study was to survey the risks faced by internal auditors during verification. We have observed how second-tier banks adapt to the application of IFRS 9 "Financial instruments". The results of the observation confirm the effectiveness of the application of IFRS 9 "Financial instruments". Conclusions. A competent transition to IFRS 9 and the deployment of specially created analytical solutions will not only increase the financial stability of individual banks, but also help to stabilize the entire banking system of Kazakhstan.