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Responsibility for Internal Control in Corporate Governance

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  • Adrian-Cosmin Caraiman

    (West University of Timisoara)

Abstract

Within organizations there are risks that are constantly evolving in achieving the scheduled objectives, which means that there may also be a chance of failure of their policies; therefore the internal control activities implemented must be correlated with the risk level established by the organization for each field or activity. Especially in corporate governance managers have become increasingly interested and have become more and more involved in the closer monitoring of the internal control system by assessing the risks they face. A particularly important role in the organization of the internal control system in an organization lies with the internal audit which must assist in maintaining effective controls by assessing their effectiveness and efficiencies and promoting continuous improvement. However, it should also be borne in mind that standardization of the audit process cannot increase the quality of the audit; this can be better observed in the case of external audit. Considering this under the present article, I will look into certain aspects of internal control responsibility in corporate governance.

Suggested Citation

  • Adrian-Cosmin Caraiman, 2020. "Responsibility for Internal Control in Corporate Governance," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(2), pages 612-618, December.
    • Handle: RePEc:ovi:oviste:v:xx:y:2020:i:2:p:612-618
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    References listed on IDEAS

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    More about this item

    Keywords

    corporate governance; internal control; internal audit; auditors; organization;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • M40 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - General
    • 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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