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Facta universitatis - series: Economics and Organization
2012, vol. 9, iss. 1, pp. 123-137
article language: English
document type: Review Paper
published on: 22/03/2013
Potentials of internal auditing in enterprise risk management
Univeristy of Niš, Faculty of Economy



Internal auditing becomes a significant mechanism of enterprise risk management in contemporary business terms. The potentials of internal auditing in risk management are determined by the scope of internal auditing and are linked to the providing of the assurance of efficacy and effectiveness of enterprise risk management process, as well as to the providing of advice concerning the management of major risks an enterprise encounters. Internal auditors should evaluate the efficiency of enterprise risk management, form opinions and make suggestions for the process improvement. Thereat, it is very important for them to preserve their impartiality in relation to the enterprise management which is responsible for the enterprise's risk management process.



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