INTERNAL AUDIT AND RISK MANAGEMENT

Elena Ruse, Georgiana SUSMANSCHI (badea) and Daniel Dăneci-Pătrău
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Elena Ruse: Andrei Saguna University, Constanta, Romania
Georgiana SUSMANSCHI (badea): Faculty of Financial and Management Accounting, Spiru Haret University, Constanta, Romania
Daniel Dăneci-Pătrău: Faculty of Financial and Management Accounting, Spiru Haret University, Constanta, Romania

SEA - Practical Application of Science, 2014, issue 3, 525-531

Abstract: The existence of risk in economic activity can not be denied. In fact, the risk is a concept which exists in every activity, the term of risk being identified with uncertainty, respectively the (un)chance to produce an undesirable event. Internal audit and risk management aim at the same goal, namely the control of risks. Internal Audit performs several roles in risk management plan. The objectives of the internal audit function varies from company to company, but in all economic entities internal audit department aims to improve performance management, enterprise performance and thus improve the internal control system. This paper aims to demonstrate, among other things, that any event that may result in failure is unquestionably classified as risk.

Keywords: Internal audit; Risk management; Risk control (search for similar items in EconPapers)
JEL-codes: M10 M42 (search for similar items in EconPapers)
Date: 2014
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