INTERNAL AUDIT AND CORPORATE GOVERNANCE IN TIME OF ECONOMIC CRISIS
INTERNAL AUDIT AND CORPORATE GOVERNANCE IN TIME OF ECONOMIC CRISIS

Summary/Abstract: Economy implies a uniform system of human activities, including finance and credit, so it cannot be treated alongside the economic and financial aspects, but in their systemic unity, as a whole, representing the vital and permanent domain of society, economic activity being directly or indirectly involved in satisfying the needs of society and representing the general foundation in the lives of all people. Modern market economy, including finance, is a mixed system, which combines economic freedom with government intervention. Particular attention must be paid to corporate governance, a very broad concept that includes a strong and effective oversight of how something is designed, managed, controlled or managed in order to protect the components of such areas, organizations or institutions. In practice, implementing and developing the concept particularly influenced the nature and evolution of internal audit. Lately, internal audit has evolved very much because the concept of governance, which has influenced and empowered in greater management assessment and risk management. The audit will inevitably be put under public pressure, since it is the function that can bring a surplus of transparency in a world so controversial.

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