Application of Internal Audit in Processes of Reducing Corruption in a Transitional Economy Like the Republic of Serbia

Abstract

Internal audit can become one of the factors that can be used to reduce the level of corruption at the level of the entire economy. The application of internal audit can be practically carried out from the company level to the level of general observation in the economy as a whole. Essentially, by applying an internal audit formed by the company's top management, it is possible to influence the improvement of all management processes in very heterogeneous companies in terms of their existence. In real decision-making processes, and especially when the top management decides to introduce an internal audit into its regular operations, the decisive motive can be aimed at reducing the level of general corruption, especially by employees at all levels of management in companies. Therefore, the internal audit can contribute with its work so that the business decisions of the top management are focused on the processes of suppressing corrupt ways of doing business.

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