The internal audit / internal control binomial in the credit institutions

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

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Keywords:internal audit norms, duality, credibility, risks, monitoring, relationships

Abstract:
Developing an internal auditing function within the Romanian banking sector is still viewed as a complex process, which has started several years ago. The lack of expertise and communication hampered the process. Often, just for the sake of compliance with regulations, banks managers found themselves pushed to adopt costly measures without undertaking any present or future benefits. \r\n\r\nSometimes, cost-cut solutions were identified by means either of formally replacing the existing internal control structures with internal auditing or joining the internal auditing with internal control process. \r\n\r\nThe article examines the relationship between internal auditing and internal control in banking sector.

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