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The Role And Tasks Of The Internal Audit And Audit Committee As Bodies Supporting Effective Corporate Governance In Insurance Sector Institutions In Poland

Author

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  • Elzbieta Izabela Szczepankiewicz

    (Poznan University of Economics)

Abstract

Faced with the risk of consecutive waves of financial crisis and economic recession, government committees, financial supervision authorities and financial institutions themselves – both in Poland and worldwide – have launched a number of measures to make the supervision of insurance sector institutions more effective, particularly in aspects related to efficient risk management and internal control. The article describes the impact of the amendment of laws and other regulations on the development of the present internal control systems in insurance sector institutions. It draws attention to the need for a new structure of the internal control system, and the role and purpose of the internal audit and the audit committee as the bodies supporting effective supervision in insurance undertakings and reinsurance undertakings.

Suggested Citation

  • Elzbieta Izabela Szczepankiewicz, 2012. "The Role And Tasks Of The Internal Audit And Audit Committee As Bodies Supporting Effective Corporate Governance In Insurance Sector Institutions In Poland," Oeconomia Copernicana, Institute of Economic Research, vol. 3(4), pages 23-39, December.
    • Handle: RePEc:pes:ieroec:v:3:y:2012:i:4:p:23-39
    DOI: 10.12775/OeC.2012.021
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    Cited by:

    1. Tomasz Iwanowicz & Bartłomiej Iwanowicz, 2019. "ISA 701 and Materiality Disclosure as Methods to Minimize the Audit Expectation Gap," JRFM, MDPI, vol. 12(4), pages 1-20, October.
    2. Elżbieta Izabela Szczepankiewicz & Joanna Błażyńska & Beata Zaleska & Farid Ullah & Windham Eugene Loopesko, 2022. "Compliance with Corporate Governance Principles by Energy Companies Compared with All Companies Listed on the Warsaw Stock Exchange," Energies, MDPI, vol. 15(17), pages 1-28, September.
    3. Waymond Rodgers & Andrés Guiral & José A. Gonzalo, 2019. "Trusting/Distrusting Auditors’ Opinions," Sustainability, MDPI, vol. 11(6), pages 1-16, March.

    More about this item

    Keywords

    insurance sector institutions; corporate governance;

    JEL classification:

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

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