Preventing Crises in the Banking Sector and the Role of Internal Audit in Corporate Governance
Preventing Crises in the Banking Sector and the Role of Internal Audit in Corporate Governance

Author(s): Mária Klimiková, Martina Muchová
Subject(s): Business Economy / Management, Financial Markets, Accounting - Business Administration
Published by: Masarykova univerzita nakladatelství
Keywords: corporate governance; internal audit; financial crisis; management; financial sector;
Summary/Abstract: Analysis of the causes of the financial crisis led to define different views and to seek factors triggering the crisis. The financial crisis has revealed that there has been no effective system of governance of financial institutions in crisis, and that there are very few measures that should be adopted by banks in the event of a banking crisis. At the same time, the fall of a number of major financial institutions turned his attention to the Corporate Governance. The attention of the professional public has focused on revising of the Corporate Governance´s role and thereby increasing the role of Internal Audit in the Corporate Governance. This paper focuses on implementation of the Corporate Governance in financial institutions as well as on impact of the updated rules of Corporate Governance and the role of Internal Audit in Corporate Governance.

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