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Internal Audit And Risk Management

Author

Listed:
  • 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)

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.

Suggested Citation

  • Elena RUSE & Georgiana SUSMANSCHI (BADEA) & Daniel DĂNECI-PĂTRĂU, 2014. "Internal Audit And Risk Management," SEA - Practical Application of Science, Romanian Foundation for Business Intelligence, Editorial Department, issue 3, pages 525-531, April.
    • Handle: RePEc:cmj:seapas:y:2014:i:3:p:525-531
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    More about this item

    Keywords

    Internal audit; Risk management; Risk control;
    All these keywords.

    JEL classification:

    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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