Enhancing internal auditors' risk assessment through governance and cognition: an Egyptian perspective

2021 ◽  
Vol 11 (3) ◽  
pp. 447
Author(s):  
Ismail Ibrahim Gomaa ◽  
Sara Hussein Sabry
Keyword(s):  
Risk Assessment ◽  
Internal Auditors

scholarly journals Impact of Internal Control on Audit Program Effectiveness: The Case of Vietnam

2018 ◽  
Vol 10 (9) ◽  
pp. 1
Author(s):  
Thi Que Nguyen ◽  
Manh Dung Tran ◽  
Thi Viet Ha Hoang
Keyword(s):  
Risk Assessment ◽  
Internal Control ◽  
Program Effectiveness ◽  
Environmental Control ◽  
Control Environment ◽  
Internal Auditors ◽  
Internal Control System ◽  
And Control ◽  
The Relationship ◽  
Audit Program

This research is conducted to examine the relationship between components of risk assessment, environmental control and control activities of internal control system and the effectiveness of the audit program in Vietnamese firms. Data were collected by sending questionnaires to management, internal auditors, and accountants of Vietnam firms and feedback of 87 responses. By testing Cronbach’s Alpha, Exploratory Factor Analysis (EFA), Analysis of Variables (ANOVA), the results show that control environment, risk assessment and control activities contribute significantly to an effective audit program. These results indicate that Vietnamese firms lack required experiences to cope with the current instruments of internal control assessment.

Internal Audit Structure and Fraud Risk Assessment From a Regulatory Perspective

2019 ◽  
pp. 302-332
Author(s):  
Lale Aslan
Keyword(s):  
Risk Assessment ◽  
Portfolio Management ◽  
Internal Audit ◽  
Internal Auditors ◽  
Fraud Risk ◽  
Critical Areas ◽  
Regulatory Perspective ◽  
Descriptive Approach ◽  
Audit Standards

This chapter aims to depict the role of internal audit in Turkish capital markets by comparing the internal audit structure and its role in detecting fraud in financial institutions and developing a framework for assessing fraud risk in intermediary institutions. The newly constructed regulations concerning banks, intermediary institutions, and portfolio management companies are compared to a global benchmark by using a conceptual and descriptive approach. According to the results of this comparison, it is clear that Turkish legislation needs to be improved in critical areas. “Integrity” should be incorporated as a founding concept of the internal audit function. Certification of internal auditors needs to be encouraged, and internal audit standards need to be adapted. As a result, a fraud risk assessment template influenced by the new regulatory framework is developed for intermediary institutions.

scholarly journals PENGENDALIAN INTERNAL DALAM PENGHIMPUNAN DANA NASABAH DI PD.BPR BANK SALATIGA

ProBank ◽  
2020 ◽  
Vol 4 (2) ◽  
pp. 188-212
Author(s):  
Sarah Wahidatun Niswah ◽  
Aprina Nugrahesthy Sulistya Hapsari
Keyword(s):  
Risk Assessment ◽  
Risk Analysis ◽  
Internal Control ◽  
Phenomenological Approach ◽  
Internal Auditor ◽  
Internal Auditors ◽  
Fraud Risk ◽  
Qualitative Descriptive ◽  
Descriptive Method

The purpose of this study is to look at the role of the internal auditors in  dealing with risks from customer fundraising activities in  PD.BPR  Bank Salatiga  has  been  running  effectively and  efficiently. Supervision of customer fund disbursement activities is very important in preventing the risk of fraud that may occur from the employee and the customer. Supervision carried out in preventing fraud risk starts from the risk assessment made by the internal auditor so that the impvolvement of the audit in assessing risk and handling the findings that occur can be resolved and provide recommendations related parties to the risk found. The reaserch method used is a qualitative descriptive method with a phenomenological approach in PD.BPR Bank Salatiga. Risk analysis mapping will be synchronized with possible events that have occurred so that the role of the internal auditors is known in assessing and resolving the risks that accur. From the risk analysis and findings, it was found that the role of the internal auditor in assessing and resolving the risks that occurred was limited to those who handled when the problems that occurred could not be resolved by the parties concerned. Internal control carried out by the bank in assessing the risks that might occur can be said to be quite good in assessing emerging risks and overcoming the risks that arise can be resolved.

scholarly journals EFFECT OF RISK ASSESSMENT BY INTERNAL AUDITOR ON EFFECTIVENESS OF LISTED COMPANIES IN NIGERIA

2020 ◽  
Vol 7 (11) ◽  
pp. 23-41
Keyword(s):  
Risk Assessment ◽  
Stock Exchange ◽  
Sampling Technique ◽  
Listed Companies ◽  
Test Method ◽  
P Value ◽  
Internal Auditor ◽  
Internal Auditors ◽  
Corporate Failure ◽  
Emerging Risk

Past studies focused on the role of internal auditors in fraud prevention and internal auditing in relation to good corporate governance and did not explore risk assessment by internal auditor for effectiveness in an organisation with the view to prevent corporate failure. This study investigated the effect of risk assessment by internal auditor on effectiveness of listed companies in Nigeria. The study adopted a survey research design. The population of the study consisted of 24 companies selected from the eleven industrial sub-sectors of the 161 listed companies on Nigerian Stock Exchange as at 30th November, 2019. The sample frame is 5012 and sample size of 501 (comprising 401 internal auditors and 100 top management staff) representing 10% of the population. Structured questionnaire with a five point Likert – scale was administered with 87.43% response rate. Random sampling technique was adopted in the selection of the 24 companies with each chosen company representing each sector. The research instrument was subjected to content validity and test and re-test method of reliability which yield Cronbach alpha value of 0.798. Result indicated that risk assessment (RA) by internal auditors has positive effect on effectiveness (EFFTV) of listed companies in Nigeria with β = 0.194, t (438) = 9.827, p<0.05. F-Statistics of 12.653; Adjusted R2 = 0.051 with p – value of 0.000 which is statistically significant at p < 0.05. Therefore, companies’ management are advised to strengthen the internal auditors in the assessment of risk that might impact on the effectiveness of an organisation to be able to avert organisational emerging risk.

PENINGKATAN PENILAIAN RISIKO OLEH RISK-BASED INTERNAL AUDITING MELALUI AGILE AUDIT PLANNING PADA ERA NEW NORMAL

2021 ◽  
Vol 18 (2) ◽  
pp. 109
Author(s):  
Wicaksono Bagus Dewandaru ◽  
Ranti Widiastuti ◽  
Zahra Wanda
Keyword(s):  
Risk Assessment ◽  
Organizational Performance ◽  
Portfolio Management ◽  
Internal Audit ◽  
Internal Auditing ◽  
New Normal ◽  
Internal Auditors ◽  
Audit Planning ◽  
Normal Period ◽  
Business Flow

Every business organization is currently faced with various large-scale business risks caused by the COVID-19 pandemic and government policies that limit the company's business flow. The business flow from upstream to downstream is disrupted due to the pandemic that occurs and the transition during the new normal period which affects organizational performance, for example, MSMEs. The role of internal auditing is very necessary to ensure that operational performance continues to run effectively and optimally under the uncertainty of the new normal era. Accountants as internal auditors with the concept of risk-based internal auditing must respond and quickly mitigate various risks that may occur as an effort to assist management. The concept of agile portfolio management, namely agile audit planning, is considered relevant in this condition, agile approach is widely studied as a solution in improving internal audit performance. Agile audit planning is considered to be more flexible and effective than traditional audit procedures. This paper provides a solution in increasing risk assessment for internal auditors in the form of risk assessment to mitigate the risks in business uncertainty due to pandemics, which is implemented in local MSME with the aim of assisting in assessing business risks. This paper was prepared using a qualitative descriptive method, with secondary reference sources through literature review from related literature sources and primary by interview method. The result of this paper is an idea of the effectiveness of agile audit planning in assessing the risks obtained from comparative analysis with traditional audit procedures and analysis of the benefits of implementing agile audit planning in MSMEs. This paper will provide an overview of the advantages of implementing agile audit planning in the new normal.Keywords: Agile Audit Planning, Internal Audit, MSME, New Normal, Risk-Based Internal Auditing

Internal Control System in Cooperative Society

2019 ◽  
pp. 276-301
Author(s):  
Norfaizah Manjah ◽  
Radiah Othman ◽  
Haslinda Yusoff
Keyword(s):  
Risk Assessment ◽  
Internal Control ◽  
Audit Committee ◽  
Control Environment ◽  
Internal Auditors ◽  
Fraud Risk ◽  
Cooperative Society ◽  
The Board Of Directors ◽  
Assessment And Monitoring ◽  
The Relationship

The increasing number of recent fraud cases involving the board of directors and top management in cooperative societies has raised concerns about the effectiveness of internal control systems (ICS) in these organizations. This chapter aims to examine the relationship between the effectiveness of the ICS and the likelihood of fraud occurrence by focusing on the control environment, risk assessment, and monitoring activities of cooperative societies in Malaysia. The results showed that the effectiveness of the control environment, risk assessment, and monitoring had no significant relationship with the likelihood of fraud occurrence in these organizations. However, this does not necessarily mean that the fraud risk is not an emerging issue. The study proposes that the internal auditors and audit committee oversee a pro-active fraud prevention check-up, as suggested by the Association of Certified Fraud Examiners (ACFE), which is to be implemented in co-operative societies to assess how vulnerable the organizations are to fraud.

Risk assessment in dentistry

1998 ◽  
Vol 62 (10) ◽  
pp. 756-761 ◽  
Author(s):  
CW Douglass
Keyword(s):  
Risk Assessment
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