Development of Audit Services for Cotton Textile Clusters

Abstract

As a result of fundamental reforms carried out in the agrarian sector in our republic, a number of new economic entities were formed in the field of cotton growing in recent years. Textile clusters today must produce competitive products not only in the domestic market, but also in foreign markets, as well as apply strong competitive strategies. In such a strong competitive environment, audits conducted by internal or external auditors, especially at the request of consumers and partners, allow clusters to reveal their advantages over other companies. Audits conducted in business entities can be classified in different ways. Most importantly, when organizing audit services, we can divide them into internal and external audit services for clusters. In fact, if the auditor is paid by the company for the performance of audit services, it is called internal audit, and if the company performs audit services without receiving a salary, it is called external audit. In the study, factors such as studying the effect of the audit on improving the cluster activity, determining the frequency of the audit, and determining the duration of the cluster activity audit were analyzed. In the future, it was analyzed how the development of information technologies will affect the organization of audit services.