INTERNAL AUDIT OF INTANGIBLE ASSETS OF AGRICULTURAL ENTERPRISES: ACCOUNTING SECURITY AND RISK-BASED APPROACH

Abstract

The article examines the theoretical and practical aspects of internal audit of intangible assets of agricultural enterprises in the context of digitalization of the economy and the growth of the role of intellectual capital. Agricultural enterprises are characterized by specific types of intangible assets that differ from other sectors of the economy. These include: rights to plant varieties and breeding achievements; licenses for the use of agrochemicals and technologies; patents for technological solutions in the field of irrigation, storage and processing of products; software for GPS monitoring, precision agriculture, agroanalytics; digital platforms for yield management; trademarks of agricultural products; databases on soils, climatic conditions, and yield. The existing regulatory and legal support for accounting for intangible assets in Ukraine is analyzed, including special legislation in the field of intellectual property, which made it possible to identify the conditions for recognizing an intangible asset, namely: the probability of obtaining future economic benefits; the reliability of determining the value and the degree of identification and control of the asset by the enterprise. The specifics of accounting for intangible assets in the agricultural sector have been determined, in particular rights to plant varieties, trademarks, software, patents, licenses and intellectual property objects. Particular attention has been paid to a risk-based approach to internal audit, which involves identifying, assessing and minimizing risks associated with the recognition, valuation, amortization and impairment of intangible assets. A risk map for auditing intangible assets of an agricultural enterprise has been developed, which is based on: accounting, legal, operational, reputational, tax and impairment risks. The identified risks lead to negative consequences for the agricultural enterprise in the form of: distortion of reporting, litigation, suspension of operational processes, image losses, overestimation of the value of intangible assets and the formation of fines that will increase the costs of the enterprise. Directions for improving internal control and audit procedures have been proposed.