Internal Control Implementation Must Focus on Core Functions

Dimitris N. Chorafas

Chapter 7 in Implementing and Auditing the Internal Control System, 2001, pp 159-184 from Palgrave Macmillan

Abstract: Abstract Chapter 1 explained that auditing is a core function for any company, no matter the business it is in. Chapter 2 made the point that internal control, too, is core to any enterprise. It was also stated that fraud has been one of the first reasons why a company needed a reliable internal control system, but today a more important background reason is exposure to credit risk, market risk, operations risk, and other risks.

Keywords: Credit Risk; Audit Committee; Market Risk; Core Function; Internal Audit (search for similar items in EconPapers)
Date: 2001
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DOI: 10.1057/9780230597860_7

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