The impact of internal audit on the financial risk management of SMEs in Romania in the context of fiscal harmonization

The study has the following objective:The analysis of SME behaviour in the management of the risk, of the risk appetite, as factor of impact on the process of planning and performance of the internal audit within the context of internationalization of the Romanian accounting and of harmonization of tax legislation with European norms in the field.The premises of this work are meant to be a starting point for a systematic analysis of the current knowledge level concerning the integration of the internal audit for the risk management in order to reach the optimum risk balance of the entity?s results. The international financial environment is affected by the new exposures generated by the European sovereign debt crisis, concerns caused by the slowing down of world economy.Having been politically and culturally influenced by the countries of European Union, Romania represents an interesting environment for research, in order to raise awareness that the internal audit and the risk management bring additional value to the entity and they are integral part of the risk equation. For the recent years the use of the procedures and policies of integrated risk management at entity level (ERM-Enterprise Risk Management) has extended, the entities thus acknowledging the advantages of risk management approach.The internal audit has the purpose of providing safety and consultancy while contributing to the risk management. The relationship between the internal audit and the risk management starts from the presentation of the global economic context where they act and manifest themselves, following the influences that define their mutual relationship, from the national perspective anchored in the European perspective.The general research area is given by the sciences of management accounting, taxation and integration of the internal audit in the risk management process, respectively, so that at the level of the theoretical research, a deductive type of approach is observed, based on the existing concepts, in order to singularize them at the level of SMEs.Research is fundamental, deductive-inductive, aiming at measuring the awareness of the need to apply risk management, its management in terms of the economic efficiency of the entity, by explaining the current national and international legislative context of the analyzed interdisciplinary phenomenon.It is envisaged that information will be acquired in what concerns the status of the analyzed phenomenon, anchored in the national economic reality, the capitalization of the information available in the analyzed field of interest, the exchange of experiences and good practices.