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Organization Of The Audit Process In Municipal Institutions: Case Study Albania

Author

Listed:
  • Nensi Xhani

    (University of Craiova, Doctoral School of Economics, Faculty of Economics and Business Administration, Economy Craiova, Romania)

  • Maria Andreia Iliescu (Ristea)

    (University of Craiova, Doctoral School of Economics, Faculty of Economics and Business Administration, Economy Craiova, Romania)

  • Marioara Avram

    (University of Craiova, Doctoral School of Economics, Faculty of Economics and Business Administration, Economy Craiova, Romania)

  • Magdalena Mihai

    (University of Craiova, Doctoral School of Economics, Faculty of Economics and Business Administration, Economy Craiova, Romania)

Abstract

Accountability and transparency are the basic principles of the efficient functioning of public finances at local level, and especially of a modern welfare state. The development of external and internal audit commitments is necessary to ensure an economical and cost-effective use of local government financial resources. This study has focused on how to organize internal and external audit activities at secondary level of government in Albania, in other words the local government. But which are the units responsible for the functioning of audit process in local self-government entities? This study's findings show that, although the legal framework for internal and external audit has been developed, the quality of internal audit units is not at the expected levels. Particularly in the organization of the audit activity, in the context of Albania's specific conditions, the government must take into account the creation of a favorable and motivating environment for the employment of auditors. The City Council and the Mayor should increase and strengthen the importance of the audit profession and audit capacities at local level.

Suggested Citation

  • Nensi Xhani & Maria Andreia Iliescu (Ristea) & Marioara Avram & Magdalena Mihai, 2020. "Organization Of The Audit Process In Municipal Institutions: Case Study Albania," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(48), pages 96-107, December.
    • Handle: RePEc:aio:aucsse:v:2:y:2020:i:48:p:96-107
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    File URL: http://feaa.ucv.ro/annals/v2_2020/008.pdf
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    References listed on IDEAS

    as
    1. Keith Thomas & Aquinas J. Purcell, 2019. "Local Government Audit Committees: A Behaviour Framework for Effective Audit Committee Performance," Australian Accounting Review, CPA Australia, vol. 29(2), pages 418-437, June.
    2. Margaret Crawford & William Henry & James McKendrick & William M. Stein, 2008. "Effectiveness of Audit Committees in Local Authorities: Views From Key Players," Public Money & Management, Taylor & Francis Journals, vol. 28(4), pages 207-214, August.
    3. Mariana Nedelcu (Bunea) & Marian Siminica & Carmen ?urlea, 2015. "The Correlation between External Audit and Financial Performance of Banks from Romania," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 17(S9), pages 1273-1273, November.
    4. Nensi Xhani & Maria - Andreia Iliescu, 2018. "Coordination Of Audit Work Between The Internal And External Audit," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(46), pages 53-60, December.
    5. Carolina Pontones Rosa & Rosario P�rez Morote & Malcolm J. Prowle, 2014. "Developing performance audit in Spanish local government: an empirical study of a way forward," Public Money & Management, Taylor & Francis Journals, vol. 34(3), pages 189-196, May.
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    More about this item

    Keywords

    local government; internal audit; external audit;
    All these keywords.

    JEL classification:

    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration

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