Business, Management and Accounting
4 years ago

Greek companies benefit from implementing risk-based internal audit for success.

The Journal of Operational Risk
Critical variables in the implementation of a risk-based internal audit: a theoretical and empirical investigation of Greek companies
Petros Lois, George Drogalas, Konstantinos Petridis, Karyofylis Doulgeridis

Paper Summary

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The study looked at how Greek companies can implement a risk-based internal audit effectively. They found that factors like the quality of internal audit, review concern, risk management system, and compliance with international standards are crucial for successful implementation. These factors were shown to have a positive impact on the adoption of risk-based internal audit. The research also highlighted the importance of focusing on these areas to apply risk-based internal audit successfully, especially in the context of economic crises affecting both firms and the wider economy.