Optimization Studies on Internal Audit Planning Process

Author:Adrian VINTILESCU BELCIUG, Ph. D. Student, Daniela COLOIU (CREŢU), Ph. D. Student, Carmen GEGEA, Ph. D. Student, Adriana LUPU, Ph. D. Student

JEL:M48, M42, C61, E37

DOI:

Keywords:internal control, internal audit, linear optimization, „Monte Carlo” simulation

Abstract:
In a brief definition internal audit planning establishes a future time program, based on projected activities.\r\nIn this process it is noted that there were two streams to be optimized, that is a matter of allocation of audit tasks and workflows for resource allocation problem in the audit itself.\r\nThe study addresses the two separate processes to develop additional control levers and tools for quantitative analysis.\r\nAs a research methodology has been used linear optimization procedure, budgeting and project management steps using „Monte Carlo” simulation.\r\nResearch result is a specific quantitative model optimization and sensitivity analysis in audit planning.\r\n\r\n\r\n

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