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The Risk Connection Of An Organization With Internal Audit. Specific Corporate Governance Practices

Author

Listed:
  • Mihaela Gruiescu

    (Associate Professor of Statistics at the Romanian American University)

  • Corina Ioanăs

    (Professor of Accounting at the Academy of Economic Studies Bucharest)

  • Dan Dragoş Morega

    (Ph.D. student at the Romanian Academy in Bucharest)

Abstract

There is risk in everything we do. A risk-free situation is one where we know exactly what will happen and there is no variation doubt, which is otherwise impossible. But not all risks have only a negative connotation, some of them can even create opportunities. A good risk management means to keep an unwanted risk in certain permissible limits and exploit its „opportune” side. Corporate governance represents an innovative method of supervision on firms’ activity. Executive boards now exert more and more influence, the investors become more and more pretentious, and the managers have become more aware of the key problems their business have to confront (every day). All these are tendencies that result from the higher importance laid on corporate governance in the business world. Given the reasons, this theme awoke in us a great attention, considering the present tendencies of organizing the management of companies. They consist in finding those ways that would prevent investors and the taxation from being manipulated.

Suggested Citation

  • Mihaela Gruiescu & Corina Ioanăs & Dan Dragoş Morega, 2010. "The Risk Connection Of An Organization With Internal Audit. Specific Corporate Governance Practices," Romanian Economic Business Review, Romanian-American University, vol. 5(3), pages 258-270, September.
    • Handle: RePEc:rau:journl:v:5:y:2010:i:3:p:258-270
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