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Evaluation of the Effectiveness of Internal Audit in Greek Hotel Business

Author

Listed:
  • Theofanis Karagiorgos

    (Associate Professor and Head of the Department of Business Administration, University of Macedonia, Greece)

  • George Drogalas

    (Adjunct Professor, Department of Accounting, Technological Educational Institute of Serres, Greece)

  • Nikolaos Giovanis

    (Adjunct Professor, Department of Business Administartion, Technological Educational Institute of Serres, Greece)

Abstract

There is currently considerable interest in the topic of internal audit and its contribution to exact management of any business economic resources. Within this framework of extremely fluid business environment, the research tested the hypothesis about the role of internal auditing for the business success. The main purpose of the present paper is not only to examine the issue in a theoretical level, but also to present empirical evidence for the interaction between components of internal control system and performance of internal auditing in Greek hotel business. According to up-to-date theoretical and empirical literature, the results point out that all components of internal audit are vital for the effectiveness of internal audit and consequently in the business survival and success.

Suggested Citation

  • Theofanis Karagiorgos & George Drogalas & Nikolaos Giovanis, 2011. "Evaluation of the Effectiveness of Internal Audit in Greek Hotel Business," International Journal of Business and Economic Sciences Applied Research (IJBESAR), International Hellenic University (IHU), Kavala Campus, Greece (formerly Eastern Macedonia and Thrace Institute of Technology - EMaTTech), vol. 4(1), pages 19-34, March.
    • Handle: RePEc:tei:journl:v:4:y:2011:i:1:p:19-34
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    File URL: http://ijbesar.teiemt.gr/docs/volume4_issue1/internal_audit.pdf
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    Citations

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    Cited by:

    1. Abdulkadir Abdulrashid Rafindadi & Zakariyah Aliyu Olanrewaju, 2019. "Internal Control System, Sustainable Management and Service Delivery of NGO’s in Nigeria: An Empirical Analysis," International Review of Management and Marketing, Econjournals, vol. 9(2), pages 89-103.
    2. Fawzi A. Al Sawalqa & Atala Qtish, 2021. "Internal Audit Function Quality and Audit Committees' Practices: Survey Evidence from Jordan," Business and Economic Research, Macrothink Institute, vol. 11(2), pages 20-43, June.
    3. Mu’azu Saidu Badara & Siti Zabedah Saidin, 2013. "The Relationship between Audit Experience and Internal Audit Effectiveness in the Public Sector Organizations," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(3), pages 329-339, July.
    4. Abdulkadir Abdulrashid Rafindadi & Zakariyah Aliyu Olanrewaju, 2019. "The Impact of Internal Control System on the Financial Accountability of Non-Governmental organisations in Nigeria: Evidence from the Structural Equation Modelling," International Review of Management and Marketing, Econjournals, vol. 9(3), pages 49-63.
    5. Mu’azu Saidu Badara & Siti Zabedah Saidin, 2013. "The Journey so far on Internal Audit Effectiveness: A Calling for Expansion," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(3), pages 340-351, July.
    6. Mu’azu Saidu Badara, 2013. "Impact of the Effective Internal Control System on the Internal Audit Effectiveness at Local Government Level," Journal of Social and Development Sciences, AMH International, vol. 4(1), pages 16-23.
    7. Muhammed Yassin Rahahle, 2017. "Extent of Compliance with Code of Ethics and its Impact on Internal Audit Effectiveness," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 7(4), pages 40-61, October.

    More about this item

    Keywords

    Internal auditing; Internal Auditing; Accounting; Management; Hotel;
    All these keywords.

    JEL classification:

    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M10 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - General

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