AUDITING OPERATIONAL RISK AND SECURITY IN BANKING INSTITUTIONS
Supp/2008 , p532..536
Author(s):
Victoria STANCIU
Ali EDEN
Keywords:
Risk management, internal audit role, operational risk, assessing risks
Abstract:
Basel II brought the reglementation frame in order to ensure risk management adequation according with the particularities of each credit institution. Implementing Pilar I, credit institutions had to ensure minimal credit adequation taking into consideration three significant risks: credit, market and operational risk. The operational risk presents distinct characteristics and special means to monitor. The present paper presents the internal audit role in the operational risk assessment in banking activity. The authors focus their research on the main factors affecting operational risk, needed controls and internal audit means of assessing the controls’ effectiveness. The research was determined by the necessity of risk management improvement in banking activity, Pilar II implementation in Romanian banking sector being a major objective for 2008.
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