Unit:
Specialty Internal AuditLibrary of the Faculty of Economics and of the Faculty of Business Administration
Author:
Sideropoulos Nikolaos
Supervisors info:
Δημήτριος Καινούργιος, Αναπληρωτής Καθηγητής, Τμήμα Οικονομικών Επιστημών, Εθνικό και Καποδιστριακό Πανεπιστήμιο Αθηνών
Original Title:
Continuous auditing as a strategic tool - The case of Piraeus bank group & the merger of the branch networks of 7 banks
Translated title:
Continuous auditing as a strategic tool - The case of Piraeus bank group & the merger of the branch networks of 7 banks
Summary:
Continuous auditing is a useful tool for risk management and the implementation of corrective actions in an organization. The aim of the present research is to examine the concept of continuous auditing in the branches network of Piraeus Bank. For this purpose, e-mail interviews and a questionnaire was used to a sample of 12 Regional Directors and Branch Network General Directors, and 40 managers of Piraeus Bank Branch network respectively. The results of this study have indicated that continuous auditing has a significant contribution in terms of the following: homogeneity in work and the common perception of risks, the cultivation of a risk awareness culture, the protection from potential frauds, and the implementation of corrective actions through transparent information diffusion to the management. However, the time and the staff needed may cause problems in the smooth operation of the bank in terms of servicing customers. Even though continuous auditing was characterized as significant, there is still room for improvements. The respondents indicated the need for more on site and remote controls, the increase of the advisory character of the audit process, the use of technology and the combination of audit process with employee education and training.
Main subject category:
Social, Political and Economic sciences
Keywords:
Continuous auditing, risk management, fraud, Piraeus bank network
