Managerial Accountability – a Key Factor in the Implementation of Internal Control Systems

Elena Doina Dascãlu () and Laura Nasta ()
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Elena Doina Dascãlu: ”Spiru Haret” University, The Faculty of Economics
Laura Nasta: Bucharest University of Economic Studies, Doctoral School in Economics

Ovidius University Annals, Economic Sciences Series, 2015, vol. XV, issue 2, 229-235

Abstract: Internal/managerial control is a key instrument for the implementation and development of managerial accountability in the public sector. The INTOSAI Subcommittee issued, in 1992, the ”Guidelines for Internal Control Standards for the Public Sector” (INTOSAI GOV 9100), defining a control framework in this sector and ensuring an objective criterion to assess public entities’ internal/managerial control systems adequacy and functionality. In this perspective, the article introduces a series of conclusions of the authors, devolving from the results of a research conducted at INTOSAI level, on public sector internal/managerial control, as well as relating to the model of the three defence lines (- operational management, - risk and compliance management, - internal audit) which aims at enhancing the way risk management and internal control are understood, by delimiting and clarifying roles and competences.

Keywords: managerial internal control system; managerial accountability; risk management and control; three lines of defence model (search for similar items in EconPapers)
JEL-codes: M40 M48 O33 (search for similar items in EconPapers)
Date: 2015
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