Internal Audit: An Opportunity for Romanian Professionals Carrier Development
Author:
Robert WIECK, KPMG
JEL:
DOI:
Keywords:
audit department, governance, risk analysis, audit plan, independence, objectivity, certification
Abstract:
Internal audit become a more and more important profession at the worldwide level. This implies for a company to develop its own department separate to the normal structure for management which has as task to ensure that at all the levels of an organization effective standards (procedures and controls) of ethics are observed as well as that the firm behaves with responsibility in its relations with the other members of the community. \r\n\r\nThe Internal Audit Department (IDA) reports, normally, directly to the Board of Directors or to the Audit Committee of a company. The Internal Audit Department has the authority to investigate the operations of a company at all levels, being at the same time, independent of the management. \r\n\r\nConsidering that Romania is European Union Member State and that the companies should face the competition pressures of a Single Market, those with the highest success will be the one that attain the highest standards for corporate governance by a transparent and correct organizational culture. \r\n\r\nThus, there is a high probability for the internal audit profession to be more and more popular, representing a career opportunity for the Romanian professionals, especially for those experienced in financial audit.\r\n