The Future of Knowledge in the Internal Audit

13 Pages Posted: 16 Jun 2017

See all articles by Emilia Vasile

Emilia Vasile

Universitatea Athenaeum

Daniela Mitran

Universitatea Athenaeum

Date Written: April 29, 2016

Abstract

In the last years the focus of internal audit has shifted away from business toward financial controls. In the future internal audit departments need to align their contributions to the organization’s strategic objectives. The purpose of the internal audit which is organised within the entities is to provide counselling to the general management and to assess the functionality of the internal control system, activities by which it brings an additional value to the entity which is audited. The optimal functioning of the entities on the basis of an integrated internal control framework imposes the existence of a proper control environment which should promote the ethical values, be transparent, accept good practice standards and set responsibilities on the same line with the strategies and policies approved by the superior level management.

Keywords: internal audit, high quality decision, corporate governance, transparancey

JEL Classification: M4, M2, M1

Suggested Citation

Vasile, Emilia and Mitran, Daniela, The Future of Knowledge in the Internal Audit (April 29, 2016). Proceedings of Harvard Square Symposium: The Future of Knowledge, Volume 1, p. 55–64, April 2016, Available at SSRN: https://ssrn.com/abstract=2986558 or http://dx.doi.org/10.2139/ssrn.2986558

Emilia Vasile (Contact Author)

Universitatea Athenaeum ( email )

Str. Garibaldi Giuseppe, 2A
Bucuresti-Sector 2
Bucuresti, 20223
Romania

Daniela Mitran

Universitatea Athenaeum ( email )

Str. Garibaldi Giuseppe, 2A
Bucuresti-Sector 2
Bucuresti, 20223
Romania

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