The importance of the supportive control environment for internal audit effectiveness – the case of Croatian companies

Barišić, Ivana; Tušek, Boris

doi:10.1080/1331677x.2016.1211954

Cited by 14 publications

(19 citation statements)

References 18 publications

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“…In fact, it is posited by few researchers that IA should have direct communication with the AC which reinforces the organizational status of IA and enables support to in maintaining IA independence. Barišić and Tušek (2016) state in the context of good practice of corporate governance as:…”

Section: Ia Function and Ac Frequent Meetingsmentioning

confidence: 99%

Which factors affect the internal audit effectiveness in India?

Joshi¹

2021

Indian Journal of Commerce &Amp; Management Studies

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Purpose: In the age of rapid technological changes, the nature of work of internal auditors is also changing and new influencing factors are emerging which affect the internal audit effectiveness. Therefore, the aim of this study is to investigate important factors influencing the effectiveness of internal audit in Nifty-500 listed companies in India. Methodology: The methodology used in this study was proportionate stratified sampling technique and data were collected using questionnaire method which was sent to 252 companies and 74 responses were received; however, only 64 usable questionnaires are included in the analysis. The response rate is 28.2%, non-response bias and common method bias (CMB) are none existence in the data. Factor analysis and multiple regression techniques are used. Findings: Reveal that "internal audit function and audit committee frequent meetings" and "usage of Big Data and Analytics (BDA)" are positively significant with IA effectiveness in Indian context. The regression function is highly significant and 34.2% of variations in dependent variable are explained by variations in independent variables. Implications: The implications are that sound awareness by the head of internal audit functions and top management are important on how the usage of BDA is going to influence the IA performance and frequent meetings and interactions between IA function and AC are necessary in the changing business and technological environment in reshaping the internal audit function. Also, furthermore, how to maximize the support of employees and top management as well as to provide more independence to internal audit should be considered. Originality: The study suggests that additional evidence is warranted to support the increasing relevance and importance of BDA by internal auditors for achieving IA effectiveness.

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Section: Ia Function and Ac Frequent Meetingsmentioning

confidence: 99%

Which factors affect the internal audit effectiveness in India?

Joshi¹

2021

Indian Journal of Commerce &Amp; Management Studies

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“…The environment in which management acknowledges the importance of controls and the structures that review their effectiveness can facilitate the communication with other employees, who often perceive an internal audit as a 'company police', and better understanding of the internal audit role by management (Barisic & Tusek, 2016). The control environment refers to the set of standards, processes, and structures that provide the basis for carrying out internal control across the organization (COSO, 2013).…”

Section: Iaef19 Supportive Control Environmentmentioning

confidence: 99%

Internal audit effectiveness: operationalization and influencing factors

Türetken

Jethefer

Özkan

2019

MAJ

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Purpose The purpose of this paper is to introduce a framework that presents how internal audit effectiveness can be operationalized and what factors are available to influence the effectiveness. Internal audits have become one of the key practices for organizations to control the adherence of their processes to standard procedures and regulations. The benefits of conducting internal audits are well acknowledged in the literature. However, it is difficult for organizations to assess the effectiveness of internal audits and to understand the factors that influence audit effectiveness. Design/methodology/approach A systematic literature review was conducted to identify relevant publications and collect and synthesize evidence on the operationalization of internal audit effectiveness and the factors that potentially influence the effectiveness of internal audits. Findings A thorough analysis of the relevant studies resulted in a comprehensive list of indicators used for the operationalization of audit effectiveness and a list of potentially influencing factors. The results of the systematic review are synthesized into a framework. Research limitations/implications The researchers should consider this study as a comprehensive source that offers pointers on the factors investigated in the literature and a basis for future research in this field to address the gaps that are identified. Practical implications Awareness about how the effectiveness of internal audits can be measured, and the factors that can potentially influence this effectiveness can help organizations to understand their current performance and ultimately improve it in the future. Originality/value The contributions of this study will help in better understanding the state of the research on internal audit effectiveness, including the influential factors, and gaps and opportunities for future research.

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“…Chartered Institute of Internal Auditors (2020) states that internal auditors provide an independent assurance that risk management, governance and internal controls are efficient and effective through a combination of assurance and consulting activities. Barisic & Tusek (2016) signifies importance of IAF effectiveness and its constant improvement to strengthen efficiency of corporate governance to add value to the operation. Dzomira (2020) affirms that a key stateholder of public sector is the general public, increasing the necessity of effective IAF to improve effectiveness and efficiency in resources deployment and provide management and governing bodies intuition and direction on governance, operation and risk management.…”

Section: Effectiveness Of Internal Auditmentioning

confidence: 99%

Fighting Corruption in the Public Sector by Implementation of Effective Internal Audit Function

Rasheed¹,

Jothimuni²

2021

theijbm

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IntroductionAs countries embark on a road to a resilient and inclusive economy, global scandals on corruption have escalated in an unprecedented scale in every continent, from Asia to Africa, Europe and America. The size, magnitude and complexity of operations has increased to a high level, with state administrations observing new methodologies to identify ambiguities and entry points for activities of corruption (The World Bank, 2020). Countries around the world has embarked on numerous forms of reform endeavors such as enhancing financial controls, financial reporting, transparency, accountability and governance in the quest to fight corruption in the public sector. A central component in the reform course is focused on monitoring and control of resources through audit and regulatory disclosures (Paterson, Changwony, & Miller, 2019). Internal audit (IA) is an essential feature in the reform process creating an ethical environment with solid governance controls to mitigate public sector corruption, a long-standing scourge on nation development. This research is focused on the role of effective internal audit function (IAF) in mitigating public sector corruption, challenges and reasons for lack of IAF, adequacy of existing internal control system, risk management processes and governance mechanism and providing recommendations to strengthen IAF in the public sector of Maldives.The public sector of Maldives comprises of 17 ministries and32 State Owned Entities (SOEs) as of 2021 (Ministry of Finance, 2021; The Presidents Office, 2021). Further, city councils, atoll councils and island level councils are elected to facilitate provision of basic necessities and essential services required by all citizens in the nation. This raises significance of public sector integrity and transparency, good governance mechanism and operating effectiveness to mitigate fraud, malpractices and corruption of public funds and resources.The eminence of internal audit has elevated in the world due to increased number of corporate collapses and financial scandals. International Professional Practices Framework (IPPF) of Institute of Internal Auditors (IIA) defines internal audit as an independent and objective consulting activity which add value to an organization and strengthen internal control system, effectiveness of risk management processes, and governance mechanism through a systematic and

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The importance of the supportive control environment for internal audit effectiveness – the case of Croatian companies

Cited by 14 publications

References 18 publications

Which factors affect the internal audit effectiveness in India?

Which factors affect the internal audit effectiveness in India?

Internal audit effectiveness: operationalization and influencing factors

Fighting Corruption in the Public Sector by Implementation of Effective Internal Audit Function

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