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Internal Audit Quality - A Key Element For The Management Decision

Author

Listed:
  • Dascalu, Doina Elena

    (Universitatea Spiru Haret, Facultatea de Finante si Banci)

  • Turlea, Eugeniu

    (Academy of Economic Studies)

  • Nicolae, Florina

    () (Universitatea Spiru Haret, Facultatea de Finante si Banci)

Abstract

The dialogue among stakeholders, audit committees and the regulatory authorities on the role and performance of internal audit has never been more robust, or more candid. The quality should be considered from three points of view: effectiveness in meeting the needs of stakeholders, efficiency and effectiveness in the use of the latest internal audit best practices, and effectiveness in complying with applicable professional and/or regulatory internal audit standards and requirements. Internal audit must address all three dimensions to be considered highly effective in today's challenging environment. Increasingly, audit committees and management are looking for objective feedback on the effectiveness of their internal audit functions. This demands a structured approach and methodology as well as indepth knowledge of internal audit practices and processes.

Suggested Citation

  • Dascalu, Doina Elena & Turlea, Eugeniu & Nicolae, Florina, 2009. "Internal Audit Quality - A Key Element For The Management Decision," Papers 2009/39, Osterreichish-Rumanischer Akademischer Verein.
  • Handle: RePEc:ris:sphedp:2009_039
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    More about this item

    Keywords

    stakeholders; audit committee; quality; internal control; management;

    JEL classification:

    • M11 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Production Management
    • M42 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Auditing

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