IDEAS home Printed from https://ideas.repec.org/a/pts/journl/y2018i3p101-106.html
   My bibliography  Save this article

The Importance Of Audit And Internal Control Within An Organization

Author

Listed:
  • Silvia Mioara TROI (ILIE)

    () (University of Craiova, Romania)

Abstract

The information provided by the audit and the internal managerial control offers to the management of the organization the possibility to consolidate its managerial decisions regarding the activity plan, the organization and coordination of the organization's structures, the exact determination of the responsibilities on structures and persons involved in the activities of the organization. The construction and proper functioning of this process, which is a long-lasting one, requires collective and individual efforts so that it can be adapted to the specificity and size of the organization as much as possible, but with due respect for applicable legal provisions and general principles of good practice. The Code of Internal Control of Public Entities has been revised and currently includes 16 Management Standards. Starting from these standards, the entity organizes its own internal management control system, adapted to its specificity and size, according to the particularities of the legal framework of organization and functioning, establishing the necessary measures for the implementation and development of the internal managerial control system, including updating of risk registers and process procedures. Finally, the result of this research is to identify the implementation strategy of the internal managerial control system with the support of internal audit so that it becomes effective and reduce risk-mitigation at an acceptable level and regularly monitor its effective functioning within the organization.

Suggested Citation

  • Silvia Mioara TROI (ILIE), 2018. "The Importance Of Audit And Internal Control Within An Organization," Scientific Bulletin - Economic Sciences, University of Pitesti, vol. 17(3), pages 101-106.
  • Handle: RePEc:pts:journl:y:2018:i:3:p:101-106
    as

    Download full text from publisher

    File URL: http://economic.upit.ro/repec/pdf/2018_3_14.pdf
    Download Restriction: no

    More about this item

    Keywords

    Internal audit; Internal managerial control; Risks; Standards; Procedures.;

    JEL classification:

    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pts:journl:y:2018:i:3:p:101-106. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Logica Banica). General contact details of provider: http://edirc.repec.org/data/fepitro.html .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.