Business, Management and Accounting
2 years ago

Internal audit independence crucial for successful enterprise risk management implementation.

International Journal of Business and Globalisation
The role of internal audit and audit committee in the implementation of enterprise risk management
Takiah Mohd Iskandar, Puan Yatim, Adibah Jamil, Zuraidah Mohd Sanusi

Paper Summary

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The article explores how internal audit and audit committees impact the implementation of enterprise risk management (ERM) in companies. The study shows that the independence of internal audit is crucial for ERM implementation. Additionally, the priority given to internal audit work plays a significant role in ERM implementation. Audit committee support is also found to enhance the effectiveness of internal audit in ERM implementation, especially in developing policies and strategies. Companies that outsource internal audit services may improve the reliability of these findings.