Purpose – to improve the current methodology for assessing the activities of internal audit bodies. This article analyzes the current procedural standard for conducting an assessment of the activities of state audit bodies. In the process of analysis, attention is paid to the issues of objectivity to evaluation areas and their criteria, which, in the opinion of the author, do not reflect objectively enough the degree of effectiveness of the activities of state audit bodies.
Methodology – methods of economic analysis are used to identify unused potentials for increasing the effectiveness of the activities of state audit bodies.
Originality/value – alternative directions are proposed and their criteria together with calculations characterizing the effectiveness of the activities of state audit bodies.
Findings – as a result of the study and analysis of the current procedural standard for the assessment of the activities of state audit bodies, the need to revise approaches to assessing the effectiveness of the activities of state audit bodies was proposed.

Purpose – to define the concept of sustainable tourism in the Kazakhstan context.
Methodology – analytical, Delphi method, electronic survey.
Originality/Value – Sustainable development of tourism implies a balance of environmental, socio-cultural and economic aspects of the tourism sector. It is necessary to ensure favorable working conditions and living conditions of the local people, destination and preservation of the natural habitat. To achieve these positive indicators, it is necessary to introduce state tools for sustainable tourism development. But first of all, it is important to determine the stakeholders' understanding of sustainable development.
Findings – At the end of this study, a common understanding of the sustainable development of tourism by stakeholders has been formed in the Kazakhstan context.

Purpose – The aim of this study is to analyze development of current concepts, approaches and principles of knowledge management system.
Methodology –As historical background of the subject is theoretical in nature, conceptual analysis and decision-making approaches were used to develop conceptual systems to study the development of knowledge management system, its main concepts and principles based on literature surveys. Literature surveys included a review of previous research made by foreign and local researchers on knowledge management.
Originality / value – Knowledge management is not a new phenomenon, but its development in domestic scientific field and business is relatively new. As a result of a systematic review of the development of knowledge management system, three main stages of this development, their significance, mechanisms and corresponding concepts were identified. And also, differences between Japanese, American and European models of knowledge management and the typology of knowledge capabilities were presented. The author revealed many concepts related to knowledge management.
Findings – The tendency of developing knowledge management system in an organization is stipulated by strategic importance of knowledge and knowledge related factors. As a result of this study, approaches, concepts and principles of the knowledge management system based on historical stages of its development were revealed. As it turned out, the knowledge management system was based on the introduction of knowledge management in organizations through the creation of a database or knowledge repository. Then, the main focus was on creating knowledge as a resource. The third stage considers knowledge as a competence that can develop new knowledge and innovations in the future.

Purpose – of the study is the development and scientific substantiation of a set of theoretical provisions and practical applications of tax management at the macro- and micro-level in Kazakhstan, taking into account the positive experience of Russia.
Methodology – synthesis, generalization, deduction, content analysis of data, dialectical-logical approach Originality/value – one of the key tasks of the state is to bring fiscal policy to new economic realities. All the objectives of this policy can be achieved only through the creation of sound tax management, based on a clear state and corporate tax strategy.
Findings – the role and place of tax management at the macro- and micro-level was examined. The legislative and statistical base of the Russian Federation and the Republic of Kazakhstan, which regulates the main indicators of state tax management, has been studied. The main directions of improving tax management in Kazakhstan are determined.

Purpose – assessment of the effectiveness of the social insurance system in the Republic of Kazakhstan.
Methodology – the research was based on the achievements of scientific thought of domestic and foreign scientists, research and applied work in the field of assessing the effectiveness of social insurance. The research is based on system approach with use of various means, estimates and comparisons, tabular and graphic methods of providing the received results. The methods of the system approach, methods of system-functional, economic-statistical analysis are used in the work.
Originality/value – on the basis of generalization of the specialized literature, the main indicators were revealed, which make it possible to evaluate the effectiveness of the social insurance system. To determine the effectiveness of the system of compulsory social insurance, calculations were made of the level of insurance payments in GDP and per capita, the growth rates of social transfers and payments, the ratio of social payments and expenditures of the republican budget for social security, calculated the replacement rates of social payments in the average wage and subsistence minimum.
Findings – the main theoretical approaches to determining the effectiveness of social insurance are considered. The authors calculated the social insurance performance indicators at the macrolevel and the financial efficiency indicators, which revealed a number of problems in the system of compulsory social insurance in Kazakhstan.

Purpose – Companies and their executive boards are challenged to develop and communicate knowledge economy strategies. A consistent business strategy must not only - in the sense of an integrated corporate communication - be presented and practiced in a uniform manner externally and internally. It must also address and consistently develop the company's specific intangible assets, knowledge resources and unique selling points.
Methodology – The basis and starting point of this study was the study of the interaction of strategic management and corporate communication. An empirical study of existing literature on effective accounting of intellectual capital was carried out. Kazakhstan's pilot project on knowledge accounting in small and mediumsized enterprises is also described and the main results of the process of measuring the knowledge-based economy are illustrated.
Originality/value – The document shows the relationship between the strategy process and integrated corporate communications in terms of intangible assets. In addition, for the first time the management tool "Declaration of intellectual capital" is presented for accounting of intellectual capital in the enterprise.
Findings – It has to be said that the method of knowledge accounting in SMEs is still in the (advanced) stage of development. The successes in creating internal transparency for the targeted management of strategic change must be supported in the next step by operational concepts for the successful implementation of measures. Also, individual successes in external disclosure of intangible assets to reduce credit costs cannot yet be interpreted as broad acceptance by banks and investors. It requires closer coordination with the needs of the financial market. The experiences gained so far with the use of the method as well as the currently existing limits of the instrument intellectual capital balance and the resulting need for further development are presented.

Purpose – At present, effective management of banking risks is a topical issue. We can observe from the theoretical issues and practical recommendations the insufficient development of the strategic management and development level of the bank in internal bank risk management. That is why the promotion and development of risk management structure is an essential element of bank internal control.
Methodology – the integrated use of the risk management methodology using the scientific and methodological framework of the sustainable development theory of the bank risk system. The correlation and regression analysis and forecast for the financial position of one of the banks were made.
Original/Value – The subject of authorship research is a brief description of modern approaches and methods of banking risk management and critical assessment of their practical value. The bank's risk management policy is aimed at identifying, analyzing and managing risks, limiting risks, and regularly evaluating the risk level and compliance with its limitations. The risk management procedures and policy are based on the econometric analysis of the bank's ten-year statistical data, taking into account changes in market conditions.
Findings – Risk management division provides the bank with effective working conditions in all sectors of the financial market, including interest rate changes, the state of operational risks, lower currency rates, bankruptcy of the borrowers, etc. as well as foresees the challenges ahead of time. The main task of banks' risk management is to develop and introduce risk management procedures as well as models for its assessment.

Purpose – This paper is devoted to disclosing urgent and problematical issues of regional economic integration taking into consideration the case of the Association of South East Asian Nations (ASEAN).
Methodology – The primary research methodology of this paper is based on conducting the comparative analysis of existing patterns of macroeconomic development, political differences and social issues within ASEAN nations that possibly lead to integration issues. It is implemented systematic vision, causes and consequences analysis, methods of statistic grouping and expert assessment.
Originality/Value – Rapid growth of the ASEAN community world has set an example for the rest to notice, observe and follow since the last decade. The emergence of ASEAN economies was based on market-driven systems and open-door trade within the countries in ASEAN and partner countries China. Although, economic integration and cooperation can lead to the birth of new opportunities for ASEAN, there are several issues that have been raised and need to be given attention to. Moreover, in the paper it is also studied integration issues of ASEAN with China that are resulting to internal disputes within several ASEAN nations that is a very urgent international issue now.
Findings – In the article it has been explored the problems of ASEAN integration during the nine-year period, from 2007 till 2016. The main goal of the research is to analyze the current situation, problems and challenges of ASEAN integration in context of government blueprints till 2025. Results indicate that significant economic, financial, political and social disparities in the ASEAN are causing regional integration issues. The paper examines the issues of regional integration in ASEAN and elaborates on the possible solutions for future advancements by conducting a situational and economic comparative analysis that will highlight the key issues within ASEAN economic integration.

Purpose – This article shows the statistical data, which shows the share of imports of dairy products in Kazakhstan. And also we will find out, by what criteria consumers of dairy products consume the products of the imported producer, and according to which domestic producers.
Methodology – methodology and approach used: statistical data, qualitative method, namely questionnaire.
Originality/value – the importance of the work. Theoretical value, find the features of domestic enterprises, consider the competitive, economic factors of the enterprise. Practical significance. Thanks to quantitative research and qualitative research (structured interview), we can consider the need to study consumer tastes and replace them with domestic products.
Findings – According to the results of questioning among consumers of butter, it was found out that for most consumers, the quality, naturalness of ingredients, as well as pricing policy are important criteria for choosing butter. The quality of products is one of the main factors for increasing the competitiveness of the enterprise. Therefore, a necessary condition for effective management of an enterprise is the use of a control mechanism that provides for a fairly accurate and prompt assessment of the relationship between product quality indicators and enterprise competitiveness.

Purpose – The study is devoted to the analysis of existing approaches to evaluate the impact of hosting major sports events and the applicability for Kazakhstani practice, using the 7th Asian Winter Games-2011 as a case study.
Methodology – the graphic method, as well as general scientific methods are used: synthesis, analysis, comparison, generalization.
Originality/value – This work indicates that the 7th Winter Asian Games in Astana-Almaty contributed to the positive impact on social and economic development not only of the city and the region, but also of the country. The results of the research can be used in making appropriate decisions, including monitoring the effectiveness of using budget funds and attracting private investments, during preparations for the mega-event.
Findings – There is a link between hosting the sports mega-events and the acceleration of the pace of development of cities and countries. However, in most cases, this positive effect is short- and medium-term and occurs mainly during the preparation and hosting of the Games.
A mega-event can enhance the reputation and image of the country, thereby increasing trade turnover and promoting economic growth.

Purpose – This article points out that the proper and effective approach to Aral Sea governance is agricultural modernization, while a variety of schemes of "diverting water to Aral Sea" will bring about new environment problems and lead to new ecological crisis.
Methodology – In this research were used case study and comparative study.
Originality/Value – The Aral Sea is now mainly induced by extensive agricultural development. Traditional irrigation model excessively consumes the runoff of two rivers in Central Asia, which results in sharp decrease of water injection in Aral Sea. Thus, Aral Sea tends to dry up and atrophy. Seeking solutions for alleviating Aral Sea Crisis and improving Aral Sea governance has become increasingly urgent.
Findings – The solution of reversion of Aral Sea Crisis is the revolution of agriculture itself in Central Asia and complete reversion of the current development model of agriculture in Central Asia. Full implementation of agricultural modernization and implementation of efficient water-saving agriculture and ecological agriculture is the effective approach to alleviate the Aral Sea crisis, the feasibility is testified by the article.

Purpose – of the research is to develop a mechanism of financial and economic management of the oil and gas industry based on the dynamic norm. The existing new economic realities to a certain extent have served as a stimulus for the intensification of the implementation of the policy of oil and gas enterprises in many sectors of the economy and require a real assessment of the available opportunities and the degree of expediency of their development.
Methodology – The work uses data of financial statements and information messages of the oil and gas enterprise of LLP «KazMunayGaz Onimderi», data of the Committee on Statistics of the RK, BP company, Kazakhstan Stock Exchange, EY reports (Ernst&Young), Rating Agency RFCA, legislative and normative acts of the Government of the Republic of Kazakhstan, country development strategy. The study used the principles of the system approach, methods of statistical and comparative economic analysis, peer review.
Originality/value The conducted researches contain new scientifically grounded results, the use of which provides solution of an important applied problem, in particular, in the implementation of state and regional programs in the oil and gas sector.
Findings – in the form of a methodology for analyzing and assessing the current financial and economic situation on the basis of a dynamic standard were introduced into the structural unit activities of LLP «KazMunayGaz Onimderi». This methodology allows for a qualitative analysis and assessment of the financial and economic status of LLP «KazMunayGaz Onimderi».

Purpose – of the research is to study the market demand for dairy products in the market of Kazakhstan Methodology – in the course of the research were used systematical theoretical summarization,
classification, method of processing of statistical data, methods of marketing research of market, comparative analysis methods.
Originality / value – the theory and practice of consumer demand for dairy products in the market of Kazakhstan are determined by marketing research.
Findings – the results of the research are theoretically considered the role and objectives of marketing planning in the creation of the company's marketing strategy and its economic effectiveness. Market research was conducted to determine the benefits of the dairy products in the market of Kazakhstan. In order to study the market conjuncture, a survey will be conducted among the consumers of dairy products in Almaty and its results will be used to create an enterprise marketing strategy. The correlation-regression analysis method is used to estimate the cost of marketing and the company's financial results, including the relationship between total revenue.