MANAGEMENT OF INTERNAL CONTROL: MODERN APPROACHES AND DEVELOPMENT PROSPECTS

Abstract

The article explores the essence, functions, and significance of internal control as a key tool for enhancing governance efficiency in higher education institutions. The study focuses on the conceptual understanding of internal control within the context of educational management, highlighting its role in ensuring transparency, accountability, risk management, and continuous quality improvement. A comprehensive review of international frameworks for internal control — including COSO (Internal Control – Integrated Framework), INTOSAI GOV 9100 (Standards for Internal Control in the Public Sector), ISO 9001 (Quality Management Systems), and ISO 31000 (Risk Management Guidelines) — is conducted to determine their applicability and benefits for the Ukrainian system of higher education. Particular attention is paid to the analysis of the national regulatory environment governing internal control in higher education institutions in Ukraine. Challenges in implementation are identified, including a lack of institutional policy and fragmented organizational structures. The article presents practical recommendations for integrating global best practices into local educational settings, emphasizing the importance of adapting international standards to the specific needs and operational features of Ukrainian universities. Key recommendations include implementing the COSO framework within the institutional governance model, establishing risk-based control mechanisms, improving communication and documentation of control procedures, introducing automated control systems, and strengthening professional development of management staff. The research contributes to the development of a strategic vision for building effective internal control systems in the field of higher education and supports the alignment of Ukrainian higher education institutions with global standards in quality assurance and organizational performance.