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Comparative Study on the Organization of Internal Public Audit in Albania and Romania

Author

Listed:
  • Nensi XHANI

    (University of Craiova, Romania)

  • Marioara AVRAM

    (University of Craiova, Romania)

  • Ilir MECE

    (Ministry of Finance and Economy, Albania)

  • Latif CELA

    (Ministry of Finance and Economy, Albania)

Abstract

The audit process has progressed and improved with the economic and political development of each country as response to the challenges of society and politics in each country and as result of the global changes' effect. The purpose of this study is to analyze the development of the audit concept and to study the main factors influencing the internal audit legislation in Albania and Romania. The research aimed to highlight some aspects of theory about how the internal audit has emerged in Albania and Romania, and to provide an overview of the differences and similarities of the two legislations on public internal audit. A detailed comparative study of the laws of both countries has concluded that Albania's legislation needs to be revised, as there are some issues that are not fully covered by the law. Efforts to improve the internal audit activity are numerous, but much remains to be done. Although Romania has a more comprehensive and detailed internal audit law, both countries need to strengthen the enforcement of legislation. For a reasonable use of public funds, the authors advocate the imposition of "restrictive"/"blocking" mechanisms or procedures for entities that do not comply with the legal provisions on internal audit.

Suggested Citation

  • Nensi XHANI & Marioara AVRAM & Ilir MECE & Latif CELA, 2019. "Comparative Study on the Organization of Internal Public Audit in Albania and Romania," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 17(155), pages 473-473.
    • Handle: RePEc:aud:audfin:v:17:y:2019:i:155:p:473
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    References listed on IDEAS

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    1. Victoria STANCIU & Crina SERIA, 2019. "Insights on the New Coordinates in Internal Audit," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 17(154), pages 261-261.
    2. Victoria STANCIU, 2018. "Public internal audit – the awareness and necessity assumption. An investigation of the Romanian reality," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 16(152), pages 544-544.
    3. Alexandru AVRAM & Costin Daniel AVRAM & Veronel AVRAM, 2014. "Research and development expenditures between discretionary costs and source for economic growth," Romanian Journal of Economics, Institute of National Economy, vol. 39(2(48)), pages 49-66, December.
    4. Diyana Ivanova, 2019. "The Professional Competence Of Public Sector Internal Auditors In Bulgaria – Opportunities And Challenges," Business Management, D. A. Tsenov Academy of Economics, Svishtov, Bulgaria, issue 1 Year 20, pages 67-82.
    5. Victor Munteanu & Marilena Zuca & Alice Ţînţă, 2010. "Internal Audit Regulations In Romania And Their Convergence To European Exigencies," Annales Universitatis Apulensis Series Oeconomica, Faculty of Sciences, "1 Decembrie 1918" University, Alba Iulia, vol. 1(12), pages 1-26.
    6. Marioara Avram, 2011. "Considerations On The Practical Application Of International Auditing Standards Regarding The Environment Of Control," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 3(39), pages 1-7.
    7. Melinda Timea Fülöp & Szabolcs Vilmos Szekely, 2017. "The evolution of the internal auditing function in the context of corporate transparency," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 15(147), pages 440-440.
    8. 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.
    9. Victoria Isabela Dragomir & Marioara Avram & Sorinel Domniºoru, 2016. "Considerations Regarding the Contents of Internal Control," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 497-502, July.
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    Cited by:

    1. Václav Kupec & Přemysl Písař & Michal Lukáč & Gabriela Pajtinková Bartáková, 2021. "Conceptual Comparison of Internal Audit and Internal Control in the Marketing Environment," Sustainability, MDPI, vol. 13(12), pages 1-18, June.
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    3. Nensi Xhani & Erton Kaleshi & Marioara Avram & Maria Andreia Iliescu (Ristea), 2019. "Institutions Responsible For Auditing And Controlling Public Resources," Annals of University of Craiova - Economic Sciences Series, University of Craiova, Faculty of Economics and Business Administration, vol. 2(47), pages 151-160, December.

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    More about this item

    Keywords

    internal audit; control; legal framework; public entities;
    All these keywords.

    JEL classification:

    • H83 - Public Economics - - Miscellaneous Issues - - - Public Administration
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing
    • M48 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Government Policy and Regulation

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