Journal of Accounting and Management Information Systems (JAMIS)

Internal audit vs. internal control

11-12/2005 ,   p40..47


Keywords:   internal audit, internal control, internal audit principles.

The internal audit activity in Romania is something relatively new. The internal audit job was introduced for the first time by the multinationals corporations, once they open subsidiaries. Those big corporations came with a large experience and implemented some internal audit principles, something new for Romania. They don’t wait for a legal framework to tell them what to do and how to do internal audit.
The International Association of Internal Auditors was establish in 1941. Despite the fact that the internal audit profession was very active in word wide, in Romania, the legal framework is continuously changing.
To have a very solid legal framework is required to have very “solid” internal auditors with large experience but also with solid knowledge about internal audit activities. If the internal audit practice in Romania will suffer a quality increase of the internal auditors, then the legal framework will move to the same direction.