CONSIDERATION OF INTERNAL AUDIT AS A DRIVER OF FINANCIAL ANALYSIS IN INDUSTRIAL ENTERPRISES OF THE REPUBLIC OF SERBIA

Drazen Vrhovac, Jelena Vitomir, Milena Lutovac, Sonja Tomas-Miskin, Nemanja Barovic and Dragana Popovic
Additional contact information
Drazen Vrhovac: PIO FUND, VOZDA KARADORDA NO. 2 79101, PRIJEDOR, BOSNIA AND HERZEGOVINA
Jelena Vitomir: DEPARTMENT OF FINANCE, FACULTY OF BUSINESS AND FINANCE, UNIVERSITY OF BUSINESS STUDIES, JOVANA DUCICA 23A, 78000 BANJA LUKA, BOSNIA AND HERZEGOVINA
Milena Lutovac: ECONOMIC, FACULTY OF ECONOMICS IN BELGRADE, 11000 BELGRADE, SERBIA
Sonja Tomas-Miskin: ECONOMIC SCHOOL OF BANJA LUKA, KRALJA ALFONSA XIII, 78000, BANJA LUKA, BOSNIA AND HERZEGOVINA
Nemanja Barovic: MASTER OF ECONOMICS, TAX ADMINISTRATION OF THE REPUBLIC OF SRPSKA, PRIJEDOR, 79000, BOSNIA AND HERZEGOVINA
Dragana Popovic: ECONOMIC FACULTY OF SUBOTICA, SEGEDINSKI PUT 9-11, 24000 SUBOTICA, SERBIA

Annals - Economy Series, 2019, vol. 6, 14-21

Abstract: The functioning of internal audit in transition countries is aimed at the optimal and realistic analysis of companies in order to maximize business results and safety of top management. As an internal organization factor, it justifies the existence on which it was founded by top management of an industrial enterprise by creating general conditions for true management reporting. In addition, it enhances the security of work in terms of reporting to state authorities on the work and operations of industrial enterprises. Internal audit carries out its activity continuously and is becoming an increasingly important factor in the safety of work and functioning of enterprises, especially in the Republic of Serbia. Formed internal audit in them raises new professional issues related to true financial reporting. She is given an increasingly important role, first of all in a professional sense, because her work promotes the work of top management of an industrial enterprise in the transition country of the Republic of Serbia audience.

Keywords: internal audit; financial analysis; enterprise; management (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2019:v:6:p:14-21

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