Jenitha John on Auditing, Growth, and Governance

Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie, 2015

Over the years, the purpose of internal audit has continued to evolve and expand, managing to successfully transition from its traditional function of monitoring financial statements to the strategic and operational efforts of checking the organization's compliance at all levels. Regarding the future, it is assumed that the internal audit will play an important advisory role, becoming an important catalyst of business development, focusing organizations on emerging risks. This transformation of the whole internal system, consisting in both control and audit, which seeks to promote a risk-centered organizational culture, is in the process of evolution, but it complexity, the conflicts of interest, the little understanding of most companies when it comes to implementing such a system as well as various issues of credibility, limit the pace of development for now. Our belief, however, is that this slow evolution is favorable for the alternative purpose of building the functions of ...

Internal Audit Foundation, 2020

6/24/2020 ​New Internal Audit Foundation Report Challenges Internal Auditor Functions to Be Value Drivers This new Internal Audit Foundation report, based on the findings of a global survey and in-depth interviews with world-class internal audit functions, addresses the question, “What is the added value of internal auditing?” It suggests concrete pointers on how to define and measure added value, and how to communicate that value to stakeholders. The findings in this report, one of the Internal Audit Foundation’s first crowdfunded research efforts (learn more), are based on a global survey and in-depth interviews with key individuals and chief audit executives of diverse organizations considered to have best-practice internal audit functions. The results suggest a maturity model that distinguishes “governance, risk, and control (GRC) partner,” “trusted advisor,” and “value driver” as growing roles of the internal audit function. This approach can help internal audit functions clarify what the added value of internal audit should look like, how chief audit executives (CAEs) and key stakeholders can measure the success of the function, and how internal auditors and CAEs can communicate that added value to stakeholders. The idea of internal auditing being a value driver means it adapts to circumstances at the speed of risk, takes a seat at the table, and offers unique insights and foresight that can contribute to discussions about corporate culture, strategy, operations, and decision making. The report’s authors, Marc Eulerich, CIA, and Rainer Lenz, CIA, QIAL, conclude that internal auditors should become value drivers if they are not already aspiring to do so. https://na.theiia.org/news/Pages/New-Internal-Audit-Foundation-Report-Challenges-Internal-Auditor-Functions-to-Be-Value-Drivers.aspx

International Journal on Governmental Financial …, 2009

Purpose – The purpose of this paper is to identify factors that affect corporate governance in Australian state government departments. Design/methodology/approach – A qualitative analysis of semi-structured interviews with 65 executives and middle managers from 25 departments across Australia is used. The interviews identified managers’ perceptions of the structures and practices of governance in four nominated areas: strategic planning, auditing, risk management and capacity building. A social capital model is utilised to analyse the data along structural, relational and cognitive dimensions. Findings – Aligned with the structural dimension, frequent departmental and leadership changes and the size and complexity of departments are reported as major barriers to good governance, while well-structured committees are perceived to strengthen governance. Aligned with the relational dimension, a culture of good working relationships between staff and strong leadership are recognised as critical for strong governance while, aligned with the cognitive dimension, a lack of shared understanding of risk, a short-term focus, and unclear individual roles and organisational goals are seen as barriers to effective governance. Research limitations/implications – The evidence is based on perceptions of participants and may not reflect actual practices nor the perceptions of others.

Purpose : The purpose of this paper is to assess the internal auditing practices on the financial performance of government-owned companies (GOCs) and to consider the The effect of a contextual factor-Political influence -on this relationship.While Much emperical works have given diverse reasons for the poor financial performance of GOCs, research evidence of the impact of internal auditing practices on the financial performance of GOCs in the Nigerian context is scanty.

2019

Libraries are rightfully recognized as the heart of academic institutions. However, they are not standalone, but interconnected with all other players within the same organisational universe: academia, administration, stakeholders, internal and external competitors and co-operators. Internal auditors' role is to promote quality standards along with a "continuous improvement" culture that includes efficiency, accountability and performance excellence at institutional level. Librarians have a long tradition of performance indicators' collection and evaluation. The crossroad where librarians and auditors meet each other is represented by an integrated methodology which links objectives, risks, performances and controls, harmonising them within the institutional context. The case of such a collaboration at European University Institute (EUI) is a noteworthy example.

International Journal of Academic Research in Accounting, Finance and Management Sciences, 2013

Internal audit effectiveness has become a fruitful topic over the decade; this is because of the important roles play by the internal auditors in organizational survival and achievement. Most of the organizations whether public or private has established internal audit department with the mind of enjoying the benefit behind the internal audit service. Therefore, in line with this, the aim of this paper is to present the journey so far on internal audit effectiveness right from the period of 2000-2013 with a calling for more research to be conducted on internal audit effectiveness so that to add on the existing literature on internal audit effectiveness particularly in the public sectors like local government level. It's a conceptual paper.

Internal Auditor Complimenting work of managment , 2023

Internal audit is a crucial function within organizations that aims to provide independent and objective assurance on the effectiveness of risk management, control, and governance processes. This research paper aims to explore the role of internal audit as an aid/ complementing the work of management. The importance of internal audit in enhancing organizational performance by identifying areas for improvement and ensuring compliance with policies and regulations. The paper also examines how internal audit and external audit coordinate to save time and efforts and how recommendations by the internal audit department can help management in decision-making and improving processes by providing reliable information and insights into operational efficiency. Furthermore, this research delves into the challenges faced by internal auditors in fulfilling their responsibilities effectively. It discusses issues such as proper reporting line, independence, and resistance from management. The paper proposes potential solutions to overcome these challenges, including strengthening communication between auditors and management, and promoting a culture of transparency within organizations. This research paper highlights the significance of internal audit as an aid/ complementing the work of management. It provides valuable insights into how organizations can leverage internal audit functions to improve performance, enhance decision-making processes, and mitigate risks effectively. By addressing the challenges faced by internal auditors head-on, organizations can maximize the benefits derived from their internal audit departments.