Uloga Odbora I Internog Revizora U Savremenom Korporativnom Upravljanju

Beke-Trivunac, Jozefina

doi:10.7251/emc1101116j

Cited by 2 publications

(2 citation statements)

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“…One more comprehensive definition of internal audit explains it as a multi-step process aimed at determining whether existing processes and procedures (condition) comply with predetermined rules and regulations (the criteria) or deviate in any way from this standard (Kagermann et al, 2008). Internal audit adds value to the organization and its stakeholders by providing objective and contributing to the effectiveness and efficiency of corporate governance, risk management and control processes (Beke-Trivunac, 2011). Internal audit examines the organization and functioning of accounting systems and related internal controls, credibility of financial and operational information.…”

Section: Internal Audit and Reasons For Its Implementation In The Supmentioning

confidence: 99%

“…Responsibility for corporate governance lies on several organizational entities. Main participants in corporate governance are boards, executive management, internal auditors and external auditors (Beke-Trivunac, 2011). An especially interesting area of auditing is internal audit with the main task to be a support for the management of the company.…”

Section: Internal Audit and Reasons For Its Implementation In The Supmentioning

confidence: 99%

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Internal audit of the supply chain management in function of cost reduction of the company

Pasula¹,

Nerandžić²,

Radošević³

2013

JEMC

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The supply chain has major impact on the company's business strategy directly affecting its operational costs. Supply chain performances within the organization have a significant impact on the company's ability to provide services to their customers and create added value. Internal audit of the supply chain is one of the most powerful and fastest ways to reduce operational costs and provide the company competitive advantages in the global market in times of economic crisis. The aim of this paper is to present the key areas of internal audit activities in assessing risk and analyzing the functioning of the supply chain. The aim of internal audit is to make recommendations for improving the efficiency and effectiveness of operations and to help management in achieving the projected business goals. The subject of this paper is the analysis of various fields of internal audit of the supply chain as well as evaluating the characteristics of individual elements of the chain with consideration to appropriateness and integration of those elements. Moreover, this paper will give an answer to the question to what extent the operations within the supply chain contribute to the fulfilling of the development strategy of the company.

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Section: Internal Audit and Reasons For Its Implementation In The Supmentioning

confidence: 99%

Section: Internal Audit and Reasons For Its Implementation In The Supmentioning

confidence: 99%

Internal audit of the supply chain management in function of cost reduction of the company

Pasula¹,

Nerandžić²,

Radošević³

2013

JEMC

View full text Add to dashboard Cite

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Internal Audit of Compensations and Benefits: Tasks and Risks in Production Systems

Berber

Pasula²,

Radošević

et al. 2012

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Compensations and benefits have always been very sensitive and complex activity of HRM process in production systems. Model of compensations presents financial and non-financial rewards linked to efforts and performances of employees and executives. Since this activity is understood as very important due to two main reasons, that compensations are motivation factor for employees and operational costs are for the company, there is a demand of making rewarding process highly effective and efficient for reaching employees and shareholders satisfaction. Besides this, many frauds, risks and problems related to amounts of executive compensations in the past initiate the need of appropriate management and control of this process. One possible way of reaching the effectiveness and efficiency of compensation process in terms of appropriate governance, risk management and control is the internal audit. Internal audit can be defined as method of independent and objective validation that increases the value and improves the operation and performance of organization and also facilitates the effects of related processes to achieve organization's goals and objectives. The main objective of this paper was to explore the reasons for, the processes involved in and risks of internal audit in HRM area of compensation and benefits. In the paper a desk research method has been used. First, the authors made a review of literature available on internal audit, with significant analysis of internal audit standards. In continuation, the rewarding process and compensations and benefits structure has been analyzed according to the practices of organizations systems and literature of HRM. After theoretical analysis, the authors integrated appropriate aspects and steps of internal audit in compensation process, where they emphasized the role of internal audit in compensation and benefit structures and amount of compensation's expenditures (related to the executive compensations). Findings of this paper are that the main reason for implementing internal audit through planned system of steps (gathering information, evaluation, analysis and action planning) and approaches (mainly by surveys) is to obtain information that would be helpful for the organization as a whole in terms of improvement of business processes related to compensation and benefit. Also, internal audit of compensation and benefit package can minimize risks that are linked to HR compensation process (employment market risk, reputation risk, compliance risk, external partnership risk, operation risk, financial reporting risk, etc.) where reputation risk is one of the most common reasons for performing internal audit. Areas where internal audit can be done are human resources strategic management, workforce planning and selection; training and development; compensation and benefit system; employee and labor relations; human resources information systems, etc. As the most important areas of HR compensation internal audit there are emphasized overall plan design, cash and stock-ba...

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Uloga Odbora I Internog Revizora U Savremenom Korporativnom Upravljanju

Cited by 2 publications

References 0 publications

Internal audit of the supply chain management in function of cost reduction of the company

Internal audit of the supply chain management in function of cost reduction of the company

Internal Audit of Compensations and Benefits: Tasks and Risks in Production Systems

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