Igor Gonik, Alexander Tekin, Olga Yurova, Alexander Fetisov, Natal`ya Kokhtashvili, The System of Internal Audit as a Management Tool of Key Processes in Regional Flagship University, International Business Management, Volume 10,Issue 30, 2016, Pages 6731-6739, ISSN 1993-5250, ibm.2016.6731.6739, (https://makhillpublications.co/view-article.php?doi=ibm.2016.6731.6739) Abstract: The study attempts to justify the need for the organization and development of the university internal audit system in order to ensure high competitiveness of educational services of the developing Flagship Technical University in Volgograd region. The researcher prove the necessity for implementing this kind of system, define the database of its functioning in the framework of the joint structure, clarify its relation with the quality management system and summarize the experience of the leading Russian universities in the research area. Particular emphasis is placed on the necessity to grant for the system of internal audit the status of the main internal procedure for monitoring the quality and efficiency of business processes implementation (primarily the implementation of educational services) for more effective quality management, taking into account the increasing requirements of regional and Federal entities to the graduates. Keywords: Benchmark-universities;internal environment;external environment;quality;Flagship University;processes;requirements;internal audit system;quality management system