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Assessment Of Credit Institutions' Operational Risks From The Perspective Of External Audit

Author

Listed:
  • Veronel Avram

    (University of Craiova, Faculty of Economics and Business Administration)

  • Roxana Hetes-Gavra

    (West University of Timisoara, Faculty of Economics and Business Administration)

  • Alexandru Avram

    (West University of Timisoara, Faculty of Economics and Business Administration)

Abstract

Credit institution\'s operational risk should be evaluated by the external auditor cautiously because it is a risk arising from the way in which the bank\'s global strategy is implemented in practice and how the bank'(tm)s activity is followed step by step by those charged with governance, internal audit and internal control so to indicate any deviation from the standard rules and procedures and reduce the likelihood of distortions caused by frauds or errors. International Standards on Auditing require to external auditors to obtain sufficient and appropriate evidences to support the audit opinion, therefore the auditor must first understand the specific banking activities and then identify and properly evaluate the credit institution\'s operational risks.

Suggested Citation

  • Veronel Avram & Roxana Hetes-Gavra & Alexandru Avram, 2012. "Assessment Of Credit Institutions' Operational Risks From The Perspective Of External Audit," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(2), pages 539-544, December.
    • Handle: RePEc:ora:journl:v:1:y:2012:i:2:p:539-544
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    File URL: http://anale.steconomiceuoradea.ro/volume/2012/n2/081.pdf
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    More about this item

    Keywords

    external audit; operational risk; misstatements; fraud; error;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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