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Internal Audit and Risk Management

Author

Listed:
  • Constantin Nicolae Vasile

    (“Spiru Haret” University)

  • Alexandru Georgiana

    (“Spiru Haret” University)

Abstract

Internal audit and risk management have the same goal: the control of risk. There are various roles for the internal audit in respect of risk management. The main limitations of internal audit in respect of risk management regards assuming risk management tasks. One of the main issues regarding risk management is to make sure that the key risks are taken into consideration and that the management and the board of the organization take action as needed. Internal audit could give advice to managers on risk management, making easier the assurance audit activities on this issue, due to the fact that the internal audit and management has agreed on what is being looked for regarding risk management within the organization.

Suggested Citation

  • Constantin Nicolae Vasile & Alexandru Georgiana, 2011. "Internal Audit and Risk Management," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 434-437, May.
    • Handle: RePEc:ovi:oviste:v:11:y:2011:i:1:p:434-437
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    More about this item

    Keywords

    risk management; internal audit; strategies of risk management.;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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