CLASSIFICATION OF LIGHT INDUSTRY CHARACTERISTICS AND SECTOR-SPECIFIC RISKS FOR INTERNAL AUDIT PURPOSES
DOI:
https://doi.org/10.5281/zenodo.21533198Keywords:
light industry, industry characteristics, risk classification, risk assessment, probability–impact matrix, inventories, internal audit.Abstract
This article systematises the specific characteristics of light industry production that affect
internal auditing and examines the rapid growth of the sector using official statistical data. The principal result of
the study is a four-group classification of industry-specific risks—supply, production and technological, financial
and accounting, and sales and export risks—based on the stages of the production chain. The study also
proposes an approach to assessing these risks using a probability–impact matrix. The proposed classification
provides an industry-specific framework for risk-based internal audit planning and supports the identification of
priority risks associated with inventories and production costs.
References
Akhmedjanov, K. B. Improvement of the Methodology of Internal Audit in Business Entities : abstract of the
dissertation for the degree of Doctor of Economic Sciences. — Tashkent, 2016.
Drury, C. Upravlencheskii i proizvodstvennyi uchet [Management and Cost Accounting] / C. Drury ;
translated from English by V. N. Egorova. — 6th ed. — Moscow : YuNITI-DANA, 2012.
Ilhamov, Sh. I. Features of internal audit and assessment of its effectiveness in business entities / Sh. I.
Ilhamov // Economics and Innovative Technologies. — 2019. — No. 1 (39). — P. 1–12.
National Statistics Committee of the Republic of Uzbekistan. Volume of Industrial Production by Type of
Economic Activity: indicator 1.02.01.0020 [Electronic resource]. — Tashkent, 2025. — URL: https://siat.
stat.uz/ (accessed: 23.07.2026).
National Statistics Committee of the Republic of Uzbekistan. Physical Volume Index of Industrial Production
by Type of Economic Activity: indicator 1.02.01.0022 [Electronic resource]. — Tashkent, 2025. — URL:
https://siat.stat.uz/ (accessed: 23.07.2026).
Khajimuratov, N. Sh. Improving the Methodology of Auditing Financial Statements : abstract of the
dissertation for the degree of Doctor of Economic Sciences (DSc). — Tashkent, 2021.
Committee of Sponsoring Organizations of the Treadway Commission. Enterprise Risk Management:
Integrating with Strategy and Performance [Electronic resource]. — Durham : COSO, 2017. — URL:
https://www.coso.org/enterprise-risk-management (accessed: 23.07.2026).
Griffiths, P. Risk-Based Auditing / P. Griffiths. — Aldershot : Gower Publishing, 2005.
Datar, S. M. Horngren’s Cost Accounting: A Managerial Emphasis / S. M. Datar, M. V. Rajan. — 16th ed.
— Boston : Pearson, 2018.
International Organization for Standardization. ISO 31000:2018. Risk Management — Guidelines
[Electronic resource]. — 2nd ed. — Geneva : ISO, 2018. — URL: https://www.iso.org/standard/65694.html
(accessed: 23.07.2026).
Pickett, K. H. S. The Internal Auditing Handbook / K. H. S. Pickett. — 3rd ed. — Chichester : John Wiley
& Sons, 2010.
Sawyer, L. B. Sawyer’s Internal Auditing: The Practice of Modern Internal Auditing / L. B. Sawyer, M. A.
Dittenhofer, J. H. Scheiner. — 5th ed. — Altamonte Springs : The Institute of Internal Auditors, 2003.
The Institute of Internal Auditors. Global Internal Audit Standards [Electronic resource]. — Lake Mary,
FL : The Institute of Internal Auditors, 2024. — URL: https://www.theiia.org/en/standards/2024-standards/
global-internal-audit-standards/ (accessed: 23.07.2026).
Downloads
Published
Issue
Section
License
Copyright (c) 2026 ECONOSCITECH INTEGRATION
This work is licensed under a Creative Commons Attribution 4.0 International License.
