THE IMPORTANCE OF ESTABLISHING A LEGAL FRAMEWORK AND OTHER INTERNAL AUDIT WORK, ESPECIALLY IN THE WORK OF THE TRANSITION COUNTRIES LIKE THE REPUBLIC OF SERBIA

Slobodan Popovic, Dragan Duranovic, Olja Munitlak Ivanovic, Ranko Mijic and Vrhovac Drazen
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Slobodan Popovic: JKP GRADSKO ZELENILO, SERBIA
Dragan Duranovic: UNIVERSITY OF NOVI SAD, SUBOTICA
Olja Munitlak Ivanovic: FELLOW INSTITUTE OF ECONOMIC SCIENCES BELGRADE, SERBIA
Ranko Mijic: COLLEGE OF ECONOMICS AND STATISTICS PRIJEDOR, BOSNA AND HERCEGOVINA
Vrhovac Drazen: BRANCH OFFICE PRIJEDOR, BOSNIA AND HERZEGOVINA

Annals - Economy Series, 2016, vol. 5, 56-60

Abstract: Internal auditing the objective examination of evidence provides assurance on the adequacy and functioning of the existing processes of risk management, control and management of the organization, as well as the fact that you mentioned processes are functioning as intended, allowing achievement of the goals of the organization. This allows for better functioning of any company, and it is of great importance for the functioning of the public sector especially in transition countries. In addition to the aforementioned account must be taken and to whom it is intended for internal audit. Internal audit is submitted to top management in the form of internal audit reports, but I state authorities such as the Ministry of Finance sector internal control and audit. Top management if it is to achieve progress must take into account the internal audit, opinion and findings of the internal auditor, and must provide guidance in their work, which are in accordance with the legislation.

Keywords: internal control; modeling; efficiency; documentation. (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2016:v:5:p:56-60

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