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In the context of a developed capital market, the dimensioning of the accounting profit is very important for investors, considering the financing of the economic entities to a higher degree than that offered by the banking system. We intend to emphasize some risks that appear from the perspective of creative accountancy (an expression of the disconnection between accountancy and taxation). The risks consist in some less ethical tendencies of artificially oversizing and undersizing the accounting and the tax profit according to certain objectives, risks that can be controlled through a better activity of accounting regulations. We can say that the accounting result can be influenced in the case of a taxation connected ratio. On the other hand, the accounting result is subject to an increasing risk due to the creative accounting. Under these circumstances, a question appears: Which risk is better to be assumed taking into account the dimension of the accounting result?

The aim of this paper is to realise a comprehensive analysis of European corporate governance codes, from the perspective of internal audit, in the manner it is provided in the OECD Principles of corporate governance. The research methodology used a classification of countries by legal regime and the determination of Russel and Rao Similarity Measure, aiming to obtain a global view over the similarity between the European corporate governance codes and the OECD Principles provisions, from internal audit's perspective. The findings suggest that countries from "Former socialists" group are less similar to OECD Principles, from internal audit perspective, while the countries from "French Civil" and "Scandinavian Civil" have a better similarity measure comparing to OECD Principles of corporate governance.

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