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Internal Audit-Tool Used by Corporate Governance in Risk Management Process Assessment


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  1. Authors:
      • PhD Ion CROITORU, email:, Afiliation: „Athenaeum” University Bucharest, Romania
      • PhD. Iulia SOBOLEVSCHI - DAVID, email:, Afiliation: Academy of Economic Studies, Bucharest

      • 89|99

  2. Keywords: Internal audit, risk management

  3. Abstract:
    Corporate governance, a function of recent date, emerged and was\r\n\r\n developed in response to a series of economic and financial scandals, including\r\n\r\n bankruptcies of multinational companies, in recent decades, which led to the loss\r\n\r\n of investor confidence in the ability of big corporations to administer them.\r\n\r\n Risk management is the responsibility of the management of the\r\n\r\n Organization, and the central objective of this process is the management of risks,\r\n\r\n so that the resources to be used with efficiency and effectiveness, in order to\r\n\r\n maximizes profit for shareholders and minimize potential threats, provided that the\r\n\r\n protection of the interests of employees and customers.\r\n\r\n Risk management is a major responsibility of the organization that\r\n\r\n management must be ensured, in order to achieve its objectives, the\r\n\r\n implementation and proper functioning of the risk management processes. Internal\r\n\r\n audit is required to ensure proper operation, sufficient and effective riskmanagement\r\n\r\n processes.\r\n

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