Template-Type: ReDIF-Article 1.0 Author-Name: Ionela-Corina CHERSAN Author-Email:macov@uaic.ro Author-Workplace-Name: Alexandru Ioan Cuza University of Iasi Title: Internal audit practices and trends in Romania and worldwide Abstract: For a long time, internal audit has been seen mainly as an activity of providing assistance to external auditors, especially by checking up accounting procedures as part of the internal control evaluation process. At present, while this role of the internal auditor has not disappeared, the role of consultant manager has gained primary importance. In this context, it is increasingly obvious that the professional profile of the internal auditor will undergo changes generated not only by the changes in the role that he or she fulfils, but also by the challenges that the business world needs to deal with: risk management, increasingly sophisticated information technology, data mining etc. This study relies on the information provided by The Institute of Internal Auditors Research Foundation – IIARF which includes data extracted from The Global Internal Audit Common Body of Knowledge – CBOK database, and it aims to point out the practices and trends regarding internal audit in Romania and worldwide, and, respectively, the competencies traditionally required from internal auditors, their views on the skills they master and on the scope of their further skill development. Classification-JEL: M42, M48. Keywords: CBOK, IIA, internal audit, skills, trends. Pages: 987 Volume: 14 Issue: 141 Year: 2016 Month: File-URL: http://revista.cafr.ro/temp/Article_9496.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:141:p:987 Template-Type: ReDIF-Article 1.0 Author-Name: Victoria STANCIU Author-Email:victoria.stanciu@cig.ase.ro Author-Workplace-Name: Bucharest University of Economic Studies Title: Trends and priorities in internal audit Abstract: The status of the internal audit as an important pillar for corporate governance is recognized unanimously; however, this status is gained through a continuous and joined effort of all internal auditors and by a clear and solid vision of the internal audit function’s development, designed by the chief of internal audit. This status recognizes the internal audit’s support for the achievement of company objectives and the improvement of risk management and it also requires continuous quantitative accumulations in the work of internal auditors. From this perspective, the author’s attention focused on the main risks and priorities that the internal audit is facing as they are reflected by international studies and surveys. The conclusions emphasized by the author’s research may be considered important milestones for the improvement of the internal audit function in Romania and for its solid connection to the realities and problems the companies are confronting with. Classification-JEL: M42, M15, O33 Keywords: Internal audit, risk assessment, performance, audit plan. Pages: 1003 Volume: 14 Issue: 141 Year: 2016 Month: File-URL: http://revista.cafr.ro/temp/Article_9497.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:141:p:1003 Template-Type: ReDIF-Article 1.0 Author-Name: Clara-Iulia Zinca (Voiculescu) Author-Email:iulia.voiculescu@gmail.com Author-Workplace-Name: Bucharest University of Economic Studies Title: Measuring the value of internal audit in the banking industry Abstract: The importance of the audit function in banking institutions has considerably increased during the financial crisis, the focus of the management moving to risk management and control processes. The role of internal audit is to help management in protecting the bank’s patrimony, reputation and ensuring the sustainable development of the organization, by providing an extensive analysis and a comprehensive insight on activities. Furthermore, just as each department must achieve the set objectives and add value to the organization, the same is true for the internal audit department. This study aims to examine the methods used to measure the value of internal audit in the banking industry and to identify the most significant methods that consider the effect of the internal audit results on the organization. We propose answers to questions such as: “Do audit functions in banking institutions confirm their value?” and “How can internal audit demonstrate its contribution to adding value to the organization?” In this regard, we approached the measuring the internal audit value from a theoretical point of view. Further, we investigated which are metrics (KPIs) and practices used to measure the value of internal audit and analysed the extent to which these metrics are likely to highlight the value added to the organization by the internal audit activity. The results of the study suggest that most organizations use methods that contain mainly quantitative and less qualitative elements. There are differences between banks and other types of organizations in terms of the methods and practices used, but also on the importance showed to measurement of internal audit value. In addition, the findings confirm that there is room for improving the methods and practices used, so that the audit function gains value and credibility. Classification-JEL: G21, M42. Keywords: Internal audit, value added, performance measurement, banks. Pages: 1009 Volume: 14 Issue: 141 Year: 2016 Month: File-URL: http://revista.cafr.ro/temp/Article_9499.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:141:p:1009 Template-Type: ReDIF-Article 1.0 Author-Name: Edward WONG SEK KHIN Author-Email:edwardwong@um.edu.my Author-Workplace-Name: Faculty of Business and Accountancy, University of Malaya, Malaysia Author-Name: Yap Poh LIAN Author-Workplace-Name: Faculty of Business and Accountancy, University of Malaya, Malaysia Author-Name: Lau Wee YEAP Author-Workplace-Name: Faculty of Business and Accountancy, University of Malaya, Malaysia Author-Name: Rusnah MUHAMAD Author-Workplace-Name: Faculty of Business and Accountancy, University of Malaya, Malaysia Title: Organizational environment factors associated with corporate social responsibility: effects on communication and guanxi relationship between supervisors and subordinates in SMEs Abstract: Effective communication within an organization as part of CSR benchmarking factor that helps align employee expectations facilitates problem solving, builds cooperative relationships and channels employee efforts to achieve common goals. This paper seeks to determine how CSR benchmarking factors of the organizational environment (such as management style, organizational structure and workplace culture) affect the effectiveness of intra-organizational communication and to examine the moderating effect of supervisor – subordinate guanxi. Data for the study was collected using self-administered questionnaires from working respondents in Kuala Lumpur in Selangor State, Malaysia. This study found that a more participative management style, less formalized organizational structure of SMEs and a healthier workplace culture are positively related to intra-organizational communication effectiveness. It was also discovered that the supervisor – subordinate relationship known as guanxi, has a positive moderating effect on all three relationships between management style, organizational structure and workplace culture with intra-organizational communication effectiveness. This study concludes that an organization’s management attitude towards employee participation, formalization of structure and healthiness of culture play important roles in encouraging effective communication and close supervisor – subordinate guanxi and further promotes communication, in addition to the mentioned environmental conditions. Classification-JEL: M12, M14 Keywords: CSR Organizational environmental factors, management style, organizational structure, workplace culture, supervisor – subordinate guanxi, intra-organizational communication effectiveness. Pages: 1025 Volume: 14 Issue: 141 Year: 2016 Month: File-URL: http://revista.cafr.ro/temp/Article_9500.pdf File-Format: Application/pdf Handle: RePEc:aud:audfin:v:14:y:2016:i:141:p:1025