Internal auditing in banking - key drivers of adding value

Postgraduate Thesis uoadl:2836819 23 Read counter

Specialty Internal Audit
Βιβλιοθήκη Τμήματος Οικονομικών Επιστημών
Deposit date:
Chiou Niki
Supervisors info:
Παναγιώτης Αλεξάκης, Καθηγητής, Τμήμα Οικονομικών Επιστημών, Εθνικό Καποδιστριακό Πανεπιστήμιο Αθηνών
Original Title:
Internal auditing in banking - key drivers of adding value
Translated title:
Internal auditing in banking - key drivers of adding value
According to the Institute of Internal Auditors: “Internal Auditing is defined as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness or risk management, control and governance process” (Institute of Internal Auditors, 2018).
Value is provided by improving opportunities to achieve organizational objectives, identifying operational improvements, and/or reducing risk exposure through both assurance and consulting services.
Surveys have shown that main key drives of adding value as internal auditing are the personal traits and competencies of audit professionals (qualifications, experience etc.), adherence to IIA standards and adoption of code of ethics, the organizational structure and proper establishment and function of an audit committee, corporate governance and effectiveness of internal audit system (3 lines of defense).
Especially in the recent years, after the experience of the financial crisis that stroke banking sector as well, regulatory environment, is another key driver, which sets the framework under which financial institutions are called to perform in a manner of protecting the public interest (social responsibility) and simultaneously generate wealth for the shareholders.
Main subject category:
Social, Political and Economic sciences
Internal Auditing, Adding Value
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Niki M. Chiou MBA in Internal Audiit-Thesis Final.pdf
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