KONTRIBUSI AUDIT INTERNAL TERHADAP MANAGEMEN RISIKO

AbstractRisks always exist in a business activity of an organization. Risks are closely related to the differences between the results and the expectations. Risk management focuses on the anticipatory actions by recognizing potential risks and influences. Risk management is part of the entity’s internal control in which the main responsibility is in the hand of the company manager or the entity. Internal auditor as the employee or the internal party has the duty to implement the risk management. Internal auditor conducts an audit process towards internal control and gives assurance in the process of risk management. The internal auditor who takes part in consultation role can assist the organization in identifying, evaluating, and implementing relevant risk management and risk control methodologies. Risk management procedures are identifying risks, constructing plans, and determining solutions. Some of the solutions are avoiding, minimizing, removing, or accepting the risks. Keywords: risk, anticipatory, internal controlAbstrakRisiko melekat pada suatu aktivitas bisnis organisasi. Risiko terkait erat antara ketidaksesuaian hasil dengan yang diharapkan. Managemen risiko merupakan suatu tindakan untuk mengurangi ketidakpastian yang berfokus pada tindakan antisipasi/pencegahan, dengan cara mengidentifikasi risiko yang mungkin terjadi sekaligus dampak yang mungkin ditimbulkan. Managemen risiko merupakan bagian dari pengendalian internal entitas yang tanggung jawab utamanya di tangan manager perusahaan atau entitas. Auditor internal selaku pegawai atau pihak internal perusahaan juga memiliki tugas atau kewajiban atas pelaksanaan managemen risiko. Audit internal melakukan proses audit terhadap pengendalian internal dan memberikan keyakinan terhadap proses managemen risiko. Auditor internal memiliki peran konsultasi yang dapat membantu organisasi dalam mengidentifikasi, mengevaluasi, dan menerapkan metodologi managemen risiko dan pengendalian yang relevan. Langkah-langkah yang harus dilakukan dalam managemen risiko adalah identifikasi risiko, membuat perencanaan, dan menentukan cara penanganannya. Penangannya risiko dapat dilakukan dengan cara yaitu menghindari, mengurangi, memindahkan, atau menerima risiko tersebut.Kata kunci: risiko, antisipasi/pencegahan, pengendalian internal

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Peran Internal Audit dalam Implementasi Enterprise Risk Management berupa Pelaporan Kerusakan Prosedur Risiko.

Akmenika: Jurnal Akuntansi dan Manajemen ◽

10.31316/akmenika.v14i2.1005 ◽

2020 ◽

Vol 14 (2) ◽

Author(s):

Indarti Indarti

Keyword(s):

Risk Management ◽

Internal Audit ◽

Enterprise Risk Management ◽

Audit Committees ◽

Corporate Risk Management ◽

Internal Auditor ◽

Internal Auditors ◽

Enterprise Risk ◽

Management Procedures ◽

Corporate Risk

Implementation of Enterprise Risk Management (ERM) by Internal Audit in an orga-nization or company becomes important because Internal Audit is expected to help the organization achieve its objectives by approaching systematic and discipline to evaluate and improve the effectiveness of risk management, control, and governance process. As for which affects it is the involvement of internal auditors, the relation-ship of the audit committee with the internal auditor, and ERM.This study aims to analyze the involvement of Internal Audit in Enterprise Risk mana-gement implementation. Internal auditors should assist both management and audit committees in risk management responsibilities and supervisory roles by examining, evaluating, reporting and recommending improvements to the adequacy and effec-tiveness of risk management processes. An interesting issue is whether internal auditors involved in corporate risk management have a link to the willingness of internal auditors to report to the audit committee.The population in this study are the internal auditors and audit committees who working in companies manufacturing and financial services. The reason for determining the company is because the researcher wants to know how internal audit is involved in ERM implementation on that entity. The sample used in this research is internal auditor at private company and at Banking in this case internal auditor at local bank.The analytical method used is multiple regression analysis with SPSS version 23 pro-gram. The analysis technique used in this research is descriptive statistical analysis, classical assumption test, F-statistic hypothesis test to test influence together with 5% confidence level and use t-statistics to test partial regression coefficients. This re-search was conducted to analyze how much influence the role of Internal Audit in applying Enterprise Risk Management in the implementation of Audit.The result of this research is that the high level of internal auditor involvement in Enterprise Risk management implementation has no significant and significant im-pact on reporting of damage to risk management procedures. This indicates that the role of internal auditors in corporate risk management does not affect the reporting of damage to corporate risk management procedures. While the characteristics of strong relationships between internal auditors and audit committees positively and significantly influence the reporting of risk procedures, this indicates that internal audits that have strong internal audit-audit committee relationships strongly support internal auditors who have high involvement to report damage Greater risk procedures.

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Control and Management of Business Risks using Internal Audit Methods

Russian Journal of Management ◽

10.29039/2409-6024-2020-8-1-86-90 ◽

2020 ◽

Vol 8 (1) ◽

pp. 86-90

Author(s):

Nataliya Kazakova ◽

Svetlana Chikurova

Keyword(s):

Risk Management ◽

Internal Control ◽

Internal Audit ◽

Business Activity ◽

Business Risk ◽

Internal Auditors ◽

Internal Control System ◽

Business Efficiency ◽

Control And Management ◽

And Control

The article discusses practical issues of business risk management based on internal audit tools aimed at improving the efficiency of the company's internal control system. Methodical recommendations have been proposed for the establishment of an internal system of identification and control of corporate risks with the help of assessment reserves. A methodical tool kit is presented, allowing internal auditors to identify existing risks of business activity, to develop timely measures aimed at preventing errors in accounting, financial irregularities, as well as to improve business efficiency, in general.

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Assets Management and Risk Control

Global Business Expansion ◽

10.4018/978-1-5225-5481-3.ch025 ◽

2018 ◽

pp. 522-546

Author(s):

María de Lourdes Eguren Martí

Keyword(s):

Risk Management ◽

Internal Control ◽

Risk Control ◽

Value Management ◽

Sarbanes Oxley ◽

Management Perspective ◽

Key Concepts ◽

Financial Misstatements ◽

Financial Scandals ◽

Assets Management

Risk management and internal control is a subject that has increased its relevance due to the recent financial scandals on companies like Enron and Worldcom, and the increment of fraud cases and financial misstatements around the globe. In line with this, several initiatives have been defined or required in order to control the risk exposure in the company processes, including the development of internal control standards like Sarbanes-Oxley (SOX). One of the factors to be considered when taking optimum decisions is risk. Due to this, in this chapter the key concepts over risk assets management will be exposed, including a practical example under SOX framework as well as a system's approach and value management perspective.

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Research on the Improvement of Risk Control Index System of Securities Companies

Finance and Market ◽

10.18686/fm.v5i4.2779 ◽

2020 ◽

Vol 5 (4) ◽

pp. 290

Author(s):

Chenbang Hu

Keyword(s):

Risk Management ◽

Internal Control ◽

Risk Control ◽

Regulatory System ◽

Financial Industry ◽

Financing Channels ◽

Management Measures ◽

Industry Competition ◽

The Face ◽

And Control

<p> With the deepening of the reform of the financial industry, regulatory agencies have not strictly controlled in accordance with the regulatory system. In the face of the ever-changing market environment and the continuous upgrading of the securities industry competition pattern, innovation and development ushered in new opportunities, but also brought some difficulties to the implementation of risk management measures in China. In addition, the development of new Internet economy features. Because the securities companies have not adapted to the new liquidity characteristics, they are insufficient to cope with the new liquidity risks. In addition, the financing channels of securities companies are single, without a good combination of financing channels, it is easy to bring greater risks. Secondly, the imperfection of internal control system and the lack of awareness of risk management and control of employees themselves also bring a lot of trouble to securities companies in risk management and control. To solve these problems, we should start from the root causes, improve the internal risk control, and at the same time, we need to work in the industry. The content of risk management is added in the threshold examination of personnel, and it is used as the assessment content in the subsequent assessment, which urges the staff to take risk control as their own responsibility.</p>

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Risk Management in Kitesurfing as a Basic Condition of Effective Learning and Safe Swimming

Polish Hyperbaric Research ◽

10.2478/phr-2018-0019 ◽

2018 ◽

Vol 64 (3) ◽

pp. 55-67

Author(s):

Wojciech Wiesner ◽

Piotr Kunysz

Keyword(s):

Risk Management ◽

Risk Analysis ◽

Risk Control ◽

Negative Events ◽

Safety Risk ◽

Effective Learning ◽

Management Procedures ◽

Last Stage ◽

Internal Character ◽

Level Of Risk

Abstract This article discusses issues related to safety during kitesurfing (swimming on a board with a kite). The considerations are based on risk management procedures. These procedures can be described interchangeably as managing your own safety. Risk management allows you to minimize threats without sacrificing your planned sport goals. The authors first describe the procedures related to the identification of threats occurring in this discipline. Teaching and practicing kitesurfing involves overcoming a large number of threats. These threats can have both external and internal character. The next stage is risk analysis, understood as the product of negative events and the probability of their occurrence. Afterwards, we discuss the ways of dealing with the threat in the event of its occurrence. The last stage is the risk control (tracking) - whether new threats have emerged, or the level of risk has remained unchanged. The described methodical impacts can be labelled as education for safety.

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Assets Management and Risk Control

Optimum Decision Making in Asset Management - Advances in Logistics, Operations, and Management Science ◽

10.4018/978-1-5225-0651-5.ch017 ◽

2017 ◽

pp. 374-398

Author(s):

María de Lourdes Eguren Martí

Keyword(s):

Risk Management ◽

Internal Control ◽

Risk Control ◽

Value Management ◽

Sarbanes Oxley ◽

Management Perspective ◽

Key Concepts ◽

Financial Misstatements ◽

Financial Scandals ◽

Assets Management

Risk management and internal control is a subject that has increased its relevance due to the recent financial scandals on companies like Enron and Worldcom, and the increment of fraud cases and financial misstatements around the globe. In line with this, several initiatives have been defined or required in order to control the risk exposure in the company processes, including the development of internal control standards like Sarbanes-Oxley (SOX). One of the factors to be considered when taking optimum decisions is risk. Due to this, in this chapter the key concepts over risk assets management will be exposed, including a practical example under SOX framework as well as a system's approach and value management perspective.

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THE ROLE OF INTERNAL AUDIT IN GOVERNANCE, RISK MANAGEMENT, AND CONTROLS FOR FRAUD PREVENTION AT PPATK

Asia Pacific Fraud Journal ◽

10.21532/apfj.001.17.02.01.02 ◽

2017 ◽

Vol 2 (1) ◽

pp. 15

Author(s):

Bambang Hadi Purnomo

Keyword(s):

Risk Management ◽

Money Laundering ◽

Internal Control ◽

Service Providers ◽

Focal Point ◽

Internal Audit ◽

Internal Auditor ◽

Financial Transaction ◽

Risk Management Process ◽

Governance Risk

ABSTRACTLaw Number 8 of 2010 concerning the Prevention and Eradication of Money Laundering has mandated the Indonesian Financial Transaction Reports and Analysis Centre (INTRAC / PPATK) to be the focal point of every effort made to combat money laundering in Indonesia. As a focal point, PPATK receives financial transaction reports from reporting parties, which include Financial Service Providers and Goods and Services Providers, where the data provided are considered to be highly confidential. This indicates that PPATK has become a strategic institution, and thereby it should be assured that its governance, risk management, and internal control are well maintained. Government Internal Supervision Apparatus (APIP) has become more strategic and keeps its pace according to the latest needs. APIP is expected to be the agent of change that could create added-values into the products or services made by the government agency. The activity of internal audit from APIP should contribute to increase the effectiveness and efficiency of governance, risk management, and control processes. In term of risk management, internal auditor should be able to evaluate the effectiveness and his contribution towards the improvement of the risk management process. Internal auditor should monitor the process through sustainable management, separated evaluation, or both. Internal auditor should be able to evaluate the potential occurrence of fraud and how the auditee manages the fraud risk. Meanwhile, in relation to internal control, the activity of internal auditor should evaluate the adequacy and effectiveness of internal control in handling the risks of the auditee’s governance, operational, and information system.

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Internal control of the business process – Financial Risk Management – in an insurance company

International Accounting ◽

10.24891/ia.23.1.94 ◽

2020 ◽

Vol 23 (1) ◽

pp. 94-109

Author(s):

A.A. Turgaeva ◽

Keyword(s):

Risk Management ◽

Business Process ◽

Internal Control ◽

Financial Risk ◽

Insurance Company ◽

Financial Risk Management

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Effect of Financial Control Mechanisms on Performance of Income Generating Units in Selected Public Universities in Kenya

International Journal of Current Aspects ◽

10.35942/ijcab.v3iv.66 ◽

2019 ◽

Vol 3 (V) ◽

pp. 286-304

Author(s):

Shadrack Musunkui Towett ◽

Isaac Naibei ◽

Williter Rop

Keyword(s):

Risk Management ◽

Internal Control ◽

Public Universities ◽

Management Strategies ◽

Internal Audit ◽

Simple Random Sampling ◽

Target Population ◽

Control Measures ◽

Financial Control ◽

Control Mechanisms

In an attempt to bridge the gap between the budgetary allocations and actual expenditures most universities have started income generating units with the aim of boosting their operational expenses. Whereas there is the potential of the use of Income Generating Units (IGUs) to generate additional funds, most universities still experience challenges in full implementation and realization of the revenue goal. This study therefore sought to determine the financial control mechanisms affecting performance of income generating units among selected public universities. The study sought to determine the effect of internal controls, credit policies, financial risk management and internal audit on performance of income generating units in selected universities. Targeted population was all the 290 employees in the IGU departments of selected public universities. The respondents were sampled using simple random sampling so as to enable equal representation of the target population without any biasness. Data collection was done using the questionnaire to ensure sufficient data was collected from the respondents. Descriptive statistics assisted in the determination of respondent’s views and opinions on every variable. Qualitative data was analysed using content analysis into meaningful, precise and comprehensive statements and presented in quotations. Data analysis was done using SPSS version 21 and data presented in form of figures and tables. The study ensured that all ethical considerations were considered by the study. The findings were that most employed Income Generating Units in Public Universities were Collection of rental fees, Evening and executive programs and Trainings of both short and long courses while the least was established to be Sales of memorabilia and books. All the financial control mechanism investigated namely internal audit, internal control measures, risk management strategies and credit policies had large extents of adoption in the selected universities. The results of the regression analysis showed that the financial control mechanisms investigated had a significant positive relationship on performance of the IGUs. Specifically, 47% of the variation of the performance of IGUs was established to be explained by the studied factors. The study concluded that the performance of the IGUs among the selected public universities was largely accounted for by the implemented financial control measures. Therefore effective financial control mechanisms is concluded to lead to better IGU performance whereas shortcomings in the financial control mechanisms is concluded to lead to diminished returns in the IGUs. The study recommended that the management in charge of the IGU department in the public universities to prioritize the formulation, implementation and monitoring of financial control mechanisms in the IGUs. To facilitate effective financial controls, the study recommended that the management especially those in the audit section to conduct regular checks and inspections on the IGUs. Additionally, frequent reforms were recommended to address the shortcomings experienced in integrating financial control measures in IGUs.

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