Internal assurance as a tool to ensure high quality of non-financial reporting

Subject. The article discusses the essence of internal assurance of non-financial or integrated reporting and its role in the process of generating corporate reports containing non-financial data. Objectives. The aim is to consider the evolution of corporate reporting of organizations; analyze the role of structural unit of the company engaged in internal assurance, preparation of non-financial statements, and ensuring their proper quality; review the impact of performance of the department responsible for internal assurance of non-financial statements on procedure for its independent verification by external auditors. Methods. The study employs general scientific methods, like systematization, detailing, generalization, induction, deduction, description. Results. The paper disclosed factors that led to the modernization of corporate reporting of enterprises, determined the ways to guarantee the proper quality of information disclosed in non-financial reports, identified functions of company's structural unit engaged in internal assurance and systematized them, considered the essence of the three-line model developed by the Institute of Internal Auditors. Conclusions. The effective work of structural unit engaged in internal assurance of non-financial or integrated reporting enables external auditors to use the results of its activities, which optimizes the process of external assurance of non-financial statements.