Application of economic analysis in audit efficiency of investments in the modernization of weapons

The article examines one of the typical problems for the practice of internal auditors of the Defense Ministry of Ukraine, which is related to the need to increase the reliability and provability of audit conclusions of the financial and material resources management system, using the example of checking the expediency of realization investment projects.

To solve the mentioned problem, a methodology is proposed based on the involvement of military-economic analysis approaches to audit procedures by conducting a comparative juxtaposition of the ratio of costs for the modernization of a sample of weapons and benefits from its implementation and probability indicators of the effectiveness of the use of a sample of weapons before and after its modernization.

For the practical use of the proposed methodology, an example is given for a specific sample of weapons with a detailed review of the procedures of the methodology and substantiation of the selected chosen conditions and the obtained results.

In order to analyze the results of the audit and make a final decision in the relevant authority, it is proposed to compile the calculations into a summary table, convenient for users of the audit report.

It is noted that the proposed method of evaluating the effectiveness of investments in the modernization of weapons can be extended to a wide range of military equipment with the appropriate correction of conditions and technical and economic indicators.