Internal audit position in the structure of the economic entities

Author:PhD. Gheorghe RUSU



Keywords:globalization, corporate governance, trust, risk management

As result of developing its functions, the internal audit has been conceptually differentiated from the institutional and normative point of view in two activities and organizational forms which are different going to functioning as two different professions, respectively:\r\n\r\n• Internal audit of private interest, which is conducted according to the norms and standards issued by The Internal Audit Association;\r\n\r\n• Internal audit of political - private interest, which in our country is conducted in accordance with the provisions of the Law 672/2002 on the internal public audit and of the Order of the Minister of Public Finance no. 38/2003 on exercising the internal public audit activity for approving the General Norms. \r\n\r\n• RISKS MANAGEMENT is a process developed by the Board of Directors together with a number of individuals from different structures of the entity (including the Audit Committee). \r\n\r\nRisks management is a dynamic process of identifying, treatment, internal audit and permanent monitoring of risks with a positive or negative impact, as case may be, on the activity, results and entire entity. The resources and organizational processes are required to be in line mainly to reducing the areas and delimiting the effects of risks which can affect the entity, as well as to stimulating the factors favorable to the entity. \r\n\r\nAlso, the risk management processes are integrated in the organizational culture, in the ethical concepts, the entity philosophy, practices, plans and programs which can affect the whole personal, this reflecting the corporatist nature of the entity management.\r\n\r\n