AUDIT AS A POSSIBLE WAY TO IMPROVE CORPORATE GOVERNANCE WITH AN OVERVIEW OF POSSIBLE MODELS OF DETERMINING THE RISK INTERVAL AND SOME OF THE BASIC IMPACT FACTORS IDENTIFIED BY TOP MANAGEMENT

Jelena Vitomir, Bogdan Laban, Ognjen Bakmaz, Nikola Nikolic and Mrdan Colovic
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Jelena Vitomir: UNIVERSITY OF BUSINESS STUDIESJOVANA DUCICA 23A, 78000 BANJA LUKA, BOSNIA AND HERZEGOVINA
Bogdan Laban: THE CITY OF SUBOTICE CITY,24000 SUBOTICA, SERBIA
Ognjen Bakmaz: HIGH SCHOOL FOR SERVICE BUSINESS, SOKOLAC, BOSNIA AND HERCEGOVINA
Nikola Nikolic: HIGH SCHOOL OF HEALTH, DOBOJ BOSNIA AND HERCEGOVINA
Mrdan Colovic: UNIVERZITETY FOR BUSINESS STUDY BANJA LUKA BOSNIA AND HERCEGOVINA

Annals - Economy Series, 2019, vol. 2, 23-29

Abstract: An audit may be a factor in improving management. Establishing the implementation of an audit can be support for improving management in enterprises. The use of audit models in order to increase the overall performance of a company's management can be viewed as a basis for general improvement and management support in the enterprise. The application of the audit leads to reduction of the risk to the enterprise at all levels of management. It should be emphasized that it is necessary to carry out the identification of the risk interval as well as the systematization of the basic risks. The authors emphasize that it is necessary to establish a proces of control mechanisms in order to increase the safety of management in the enterprise. An audit may provide support to the management top management structure. The use of audit engagements is to increase business efficiency by using audit tools through the recommendations of the auditors given to top management. The model, as generally accepted, does not exist. Practical implementation of audit findings can mean increasing the efficiency of the company's operations. Showing more models for the application of audit in management is just one way to draw the attention of the expert public to the importance of implementing the audit in enterprises.

Keywords: management; audit; management; benefit management results (search for similar items in EconPapers)
Date: 2019
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