Economic Themes (2010) 48 (2) 11, 281-295
Rifet Đogić
Abstract: For present companies to survive, grew and develop in a turbulent global environment, management efforts must be directed towards quality management processes at all levels, primarily in terms of increasing concern and commitment of achieving the aims and requirements of owner, efficient use of resources, increase quality and environmental awareness, ethical behaviour and accentuate responsibilities, etc. The main role in this has system of internal controls as a fundamental component of the overall system of internal control. In smaller companies system of internal controls is established and supervised by management. However, in large, diversified and decentralized companies internal audit is organized which verifies the operation of the system of internal controls and in that way helps management in efficient managing of business risks. The aim of this paper is to point out the place and role of internal audit in overseeing internal controls and building an effective system of internal control.
Keywords: system of internal control; system of internal controls; internal audit; controlling; monitoring of internal controls
FUNCTIONALITY CHECK OF SYSTEMS OF INTERNAL CONTROLS BY INTERNAL AUDIT
Rifet Đogić
Abstract: For present companies to survive, grew and develop in a turbulent global environment, management efforts must be directed towards quality management processes at all levels, primarily in terms of increasing concern and commitment of achieving the aims and requirements of owner, efficient use of resources, increase quality and environmental awareness, ethical behaviour and accentuate responsibilities, etc. The main role in this has system of internal controls as a fundamental component of the overall system of internal control. In smaller companies system of internal controls is established and supervised by management. However, in large, diversified and decentralized companies internal audit is organized which verifies the operation of the system of internal controls and in that way helps management in efficient managing of business risks. The aim of this paper is to point out the place and role of internal audit in overseeing internal controls and building an effective system of internal control.
Keywords: system of internal control; system of internal controls; internal audit; controlling; monitoring of internal controls
