INTERNAL AUDIT IN CREDIT INSTITUTIONS – AN EMPIRICAL STUDY ON ROMANIAN FRAMEWORK VS. BASLE SETTLEMENTS
INTERNAL AUDIT IN CREDIT INSTITUTIONS – AN EMPIRICAL STUDY ON ROMANIAN FRAMEWORK VS. BASLE SETTLEMENTS

Summary/Abstract: Starting from the stipulations of Basle Committee on Banking Supervision regarding the internal audit in credit institutions, the purpose of this paper is to focus on the Romanian framework and to compare it with the international settlements. To reach to a conclusion, we approached an analysis of our national regulation in correlation with the international one, by identifying several key issues closely related to the internal audit’s principles and using statistical indicators in order to determine the degree of similarities and dissimilarities between the two selected frameworks. According to the values of the statistical coefficient, the results of the performed analysis show how close to Basle Committee’s settlement are the Romanian internal audit’s principles. The paper has some limitations, too, because it only approaches formal harmonization in the area of internal audit principles in banks. Moreover, those issues analyzed through the regulations’ perspectives need to be closely quantified in matters of their actual implementation, which offer us outlooks of future research.

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