Journal of Accounting and Management Information Systems (JAMIS)

General considerations regarding internal audit

11-12/2005 ,   p266..268


Keywords:   audit, internal audit, internal public audit


In the last years the economic world has assisted to surprising break downs of very important companies (e.g. Enron, WorldCom in USA), what were possible because, between other motives, the process of auditing was incorrect and confusing for all interested actors: investors, employee, financial markets. The decrease of incorrect process in organization and increase the confidence in those are goals what must be achieved by adopting regulations regarding internal auditing. Internal audit must be one of the most important actors in the decrease risks, in improving costs management and the increase the value for stock holders. In Romania it's a law what has been adopted in 2002 (no. 672/2002) regarding internal public auditing, which establish the internal audit in the public institutions regarding the composition and using public money and the management of public patrimony. The efforts for improving this activity are deploying in this time.