The Role of Internal Audit Function on Corporate Governance and Management

Kontogeorgis, Georgios

doi:10.5296/ijafr.v8i4.13626

Cited by 10 publications

(11 citation statements)

References 24 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Internal control is crucial to improving corporate processes and management (Kontogeorgis, 2018). Th e operation of internal auditing in the public sector in Greece is a reality as the operation has been strengthened from 1999 until today through the legislation provisions concerning internal audits (Kontogeorgis and Filos, 2012).…”

Section: Th E Role Of Internal Auditing In the Improvement Of E-governancementioning

confidence: 99%

Reinstating Greek E-Governance: A Framework for E-Government Benchmarking, Improvement and Government Policies

Kontogeorgis¹,

Varotsis²

2021

PAI

Self Cite

View full text Add to dashboard Cite

This paper presents the implementation and evolution of e-governance in Greece as well as offering insights, policies and suggestions for the design of e-government benchmarks. The research objectives of this article are to identify the appraisal of Greece in e-government over time and in relation to other countries as well as the role of internal audit and transparency related to digital public services. The method adopted is through an extensive bibliographic review of the Greek, European and international literature of the thematic field of e-government as well as the presentation of several frameworks to structure the discussion of e-government benchmark design based on a benchmarking with key indicators of published surveys from internationally reputable organizations. The findings of this paper are that Greece proceeded at a very slow pace in its digital transformation, shows shortcomings in e-government policies, records delays in adapting the services requested by citizens, and no matter the lack of investment in technological infrastructure, the effectiveness of e-governance presupposes proactiveness. Nevertheless, another key conclusion of the research is that Greece is far from the average performance of e-government in the European Union due to its chronic economic problems, the lack of technological equipment and the lack of overall orientation in e-government. Furthermore, this paper can be a measure of comparison for other countries that have similar characteristics to Greece in order to improve e-governance.

show abstract

Section: Th E Role Of Internal Auditing In the Improvement Of E-governancementioning

confidence: 99%

Reinstating Greek E-Governance: A Framework for E-Government Benchmarking, Improvement and Government Policies

Kontogeorgis¹,

Varotsis²

2021

PAI

Self Cite

View full text Add to dashboard Cite

show abstract

“…Internal audit and corporate governance are one and the same and internal audit is an important part of successful corporate governance [6][7]. On the one hand, a reasonably effective internal audit is a fundamental requirement of good corporate governance and can maintain checks and balances between shareholders, the board of directors, the supervisory board and corporate governance management.…”

Section: The Relationship Between Internal Audit and Corporate Govern...mentioning

confidence: 99%

Study on the Positioning of Internal Audit Function Under Corporate Governance

Ma¹

2021

IJBER

View full text Add to dashboard Cite

Corporate governance mechanism is the core of a modern enterprise system and its effectiveness or otherwise is an important factor affecting corporate performance. A reasonable and effective internal audit is a basic requirement for good corporate governance, and it forms one of the four cornerstones of corporate governance, together with the board of directors, senior management and external audit. The internal audit function is not limited to being accountable to the company's management but also assumes a fiduciary responsibility to shareholders and stakeholders as well as to the external community. In fact, internal audit is an independent monitoring and control mechanism on whether the fiduciary party is effectively fulfilling its economic responsibilities. With the development of the market economy and the progress of enterprise economic management, the object of internal audit is not only limited to the financial aspect but also extends more to the management field. With the rapid development of information technology and the accelerating globalisation of the economy, the function of internal audit has also changed significantly and the function of internal audit must be expanded and extended to suit the modern corporate governance environment. The four traditional functions of internal audit include the supervisory function, control function, evaluation function and advisory function. The objectives of internal audit are gradually being aligned with those of corporate governance as modern enterprises continue to strengthen their corporate governance. The main objective of modern corporate governance is to increase the value of the company. To be consistent with the company's objectives, internal audit must be targeted at adding value to the business. So the core function of internal audit based on corporate governance should undoubtedly be to add value.

show abstract

“…Furthermore, the internal audit function can contribute to the development of a robust risk management framework by identifying potential risks and providing assurance on the adequacy of controls to mitigate those risks. This, in turn, enhances the effectiveness of corporate governance practices in the Nigerian manufacturing sector (Abiola & Adeniji, 2016).…”

Section: Introductionmentioning

confidence: 95%

“…The role of internal audit in enhancing corporate governance practices in the Nigerian manufacturing sector has been widely studied by researchers and practitioners. According to Abiola and Adeniji (2016), "internal audit is an integral component of corporate governance mechanism in any organization, as it provides independent assurance on the effectiveness of the control environment and risk management practices. "…”

Section: Introductionmentioning

confidence: 99%

The Role of Internal Audit in Enhancing Corporate Governance Practices in the Nigerian Manufacturing Sector

2023

RJFA

View full text Add to dashboard Cite

Corporate governance is a crucial aspect of any organization, especially in the Nigerian manufacturing sector. Effective corporate governance practices are essential for promoting transparency, accountability, and sustainable business growth. Internal audit plays a significant role in ensuring that these practices are adhered to and maintained. This conceptual paper aims to explore the role of internal audit in enhancing corporate governance practices in the Nigerian manufacturing sector through review of scholarly literature. The article revealed that internal audit plays a vital role in enhancing corporate governance practices in the Nigerian manufacturing sector. The internal audit function provides independent and objective assurance to the board and management that the organization's systems and processes are operating effectively, efficiently, and ethically. The paper also highlighted the challenges faced by internal auditors in Nigeria, including inadequate resources, lack of awareness about the internal audit function, and the perception that internal audit is only focused on financial reporting. The study recommends that the internal audit function should be adequately resourced, and internal auditors should receive continuous professional development training to keep up with emerging trends and best practices in corporate governance. Overall, this study provides valuable insights into the crucial role of internal audit in enhancing corporate governance practices in the Nigerian manufacturing sector. The study's findings can guide organizations in improving their corporate governance practices by leveraging the internal audit function's strengths to enhance transparency, accountability, and sustainable business growth.

show abstract

The Role of Internal Audit Function on Corporate Governance and Management

Cited by 10 publications

References 24 publications

Reinstating Greek E-Governance: A Framework for E-Government Benchmarking, Improvement and Government Policies

Reinstating Greek E-Governance: A Framework for E-Government Benchmarking, Improvement and Government Policies

Study on the Positioning of Internal Audit Function Under Corporate Governance

The Role of Internal Audit in Enhancing Corporate Governance Practices in the Nigerian Manufacturing Sector

Contact Info

Product

Resources

About