A model for redesign internal audit function by using risk management
Managerial Studies Journal,
Volume 8, Issue 15, Pages 110-156
AbstractInternal Audit Environment faces big changes, on the application and also on the theoretical aspects of Internal Audit. Those changes that occur in internal and external environment create many risks that affect the continuity of organizations. The organizations have to manage those risks to achieve its objectives, this lead to represent a new concept which is Risk Management and it used by a lot of organizations. The use of this concept leads the organization management to use different approaches to make sure that the procedures are used in accurate way to reduce risk. The internal audit function has the main role in this area.
This development creates a new audit approach in mid nineteenth called Risk Based Internal Audit. These changes in internal audit function bring with it inability of the traditional approach of internal audit function to meet these requirements, and this create a need to redesign the internal audit function to be able to meet the risk management requirement. Due to the importance of this aspect, this research is focus on redesigning of internal audit function to meet the risk management needs.
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