Relation internal auditing - corporate governance

Author:Lecturer, PhD. Camelia Liliana DOBROŢEANU, Associate Prof. PhD. Laurenţiu DOBROŢEANU

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Keywords:governance model, oversight, principles, specialized committees, organizational culture, transparency

Abstract:
Toward the end of the last century and at the beginning of the current millennium, international financial markets have encountered the implications of companies` failures. This situation has triggered an active approach by national and international organizations dealing with protection of public interest. It appears that, among others, poor corporate governance is a key-factor that led to those failures. Corporate governance best practices, rooting in Anglo-Saxon business environment, were consequently revised and strengthened. \r\n\r\nThe banking sector – as a key component of sound functioning of a market economy – is one of the most important area of concern as far as the observance of corporate governance principles is considered. \r\n\r\nThe article examines the fundamentals of banking corporate governance in relation with banks internal auditing function. \r\n

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