INTERNAL AUDIT QUALITY - A KEY ELEMENT FOR THE MANAGEMENT DECISION

Doina Elena Dascalu, Eugeniu Turlea and Florina Nicolae ()
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Doina Elena Dascalu: Universitatea Spiru Haret, Facultatea de Finante si Banci
Eugeniu Turlea: Academy of Economic Studies
Florina Nicolae: Universitatea Spiru Haret, Facultatea de Finante si Banci

No 2009/39, Working Papers from Universitatea Spiru Haret, Facultatea de Finante si Banci, Centrul de Cercetari Economico-Financiare Avansate

Abstract: The dialogue among stakeholders, audit committees and the regulatory authorities on the role and performance of internal audit has never been more robust, or more candid. The quality should be considered from three points of view: effectiveness in meeting the needs of stakeholders, efficiency and effectiveness in the use of the latest internal audit best practices, and effectiveness in complying with applicable professional and/or regulatory internal audit standards and requirements. Internal audit must address all three dimensions to be considered highly effective in today's challenging environment. Increasingly, audit committees and management are looking for objective feedback on the effectiveness of their internal audit functions. This demands a structured approach and methodology as well as indepth knowledge of internal audit practices and processes.

Keywords: stakeholders; audit committee; quality; internal control; management (search for similar items in EconPapers)
JEL-codes: M11 M42 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-acc
Date: 2009-06-16

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Persistent link: http://EconPapers.repec.org/RePEc:ris:sphedp:2009_039

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