A Comparative Study of Well-established Internal Control Models

Briciu, Sorin; Dănescu, Andreea Cristina; Dănescu, Tatiana; Prozan, Mihaela

doi:10.1016/s2212-5671(14)00662-5

Cited by 12 publications

(9 citation statements)

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“…These events have led to a move towards more robust compliance at a global level, which will require much more improvements in internal controls and will change the nature of governance fundamentally. Berisha-Vokshi (2015) notes that internal control is one of the most important and fundamental concepts, which includes all processes aimed at successful development of the operation, always regarding achieving objectives, eliminating obstacles and avoiding ascertained violations by taking the necessary measures against them.…”

Section: Introductionmentioning

confidence: 99%

“…Internal control represents an area of interest for all users of financial statements, as well as for the external auditor when providing conclusive audit evidences, necessary to underlie the audit opinion (Briciu, Dănescu, Dănescu, & Prozan, 2014), hence, internal control remains an important topic in business and organisational life, for the investors, legislators and as well as the supervisory authorities that enforce them (Arwinge, 2013). According to (SIGMA, 2018), the objectives of internal control are to ensure that there is:…”

Section: Introductionmentioning

confidence: 99%

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An Overview on the Development of Internal Control in Public Sector Entities: Evidence from Kosovo

Ujkani¹,

Vokshi²

2019

IJEBA

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Purpose: The development and implementation of Public Internal Financial Control (PIFC) in the management processes plays an important role in providing sound financial management, transparency, efficiency and effectiveness in the public sector entities. Design/Methodology/Approach: In this paper we have analysed the annual reports on the functioning of the PIFC system in the public sector of Kosovo for the 2014-2017 period. The analysis has been completed even more, based on the annual reports of National Audit Office, progress reports published by the European Commission, showing the progress achieved under the EU directives as well as the data from the monitoring reports of SIGMA (Support for Improvement in Governance and Management). Findings: The findings show that the implementation of rules and procedures for internal control in budget organizations lags behind the development of the overall framework. Practical Implications: Continuous improvements in the field of Public Internal Financial Control are important steps in the process of European integration, while Kosovo has made considerable efforts to develop the control environment and implement the PIFC principles, particularly by establishing the appropriate legal, and institutional framework to support the PIFC system. Originality/Value: PIFC development is a continuous process and is part of the public administration reform, hence this paper contributes in identifying possible gaps and weaknesses in the system of internal control in Kosovo and provides recommendations for their improvement.

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Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

An Overview on the Development of Internal Control in Public Sector Entities: Evidence from Kosovo

Ujkani¹,

Vokshi²

2019

IJEBA

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“…Các chuẩn mực kiểm toán quốc tế xác định KSNB như một quá trình được soạn thảo bởi những nhà quản trị, nhà quản lý và những người có thẩm quyền để đảm bảo hợp lý các mục tiêu của tổ chức liên quan đến BCTC trung thực, đáng tin cậy, cũng như hoạt động hiệu quả, phù hợp với pháp luật và các quy định hiện hành (Briciu, Dănescu, Dănescu, & Prozan, 2014).…”

Section: Cơ Sở Lý Thuyếtunclassified

Tác động của kiểm soát nội bộ đối với rủi ro tín dụng - Trường hợp tại ngân hàng thương mại cổ phần có vốn nhà nước ở Việt Nam

Trung¹

2020

HCMCOUJS

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Nghiên cứu này tìm kiếm tác động của kiểm soát nội bộ đối với rủi ro tín dụng tại các ngân hàng thương mại cổ phần có vốn nhà nước ở Việt Nam từ 2005-2016. Nghiên cứu sử dụng phương pháp định lượng ( hồi quy, gộp-hồi quy tuyến tính, mô hình tác động cố định và mô hình tác động ngẫu nhiên) và kết quả nghiên cứu cho thấy, yếu tố đánh giá rủi ro và hoạt động kiểm soát tác động ngược chiều với rủi ro tín dụng, trong khi yếu tố môi trường kiểm soát và thông tin và truyền thông tác động cùng chiều với rủi ro tín dụng.

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“…After an extensive theoretical study of internal controls, (Lakis & Giriunas, 2012) International Auditing Standards define internal control as a drafted process implemented by people in governance, management and other persons in authority in order to give reasonable assurance that objectives of the organization regarding credible financial reporting, efficiency and efficacy of operations and are in compliance with existing laws and regulations (Briciu, Dănescu, Dănescu & Prozan, 2014). The definition focuses on the micro level of viewing the organization and limits the definition to control of the individuals within the organization.…”

Section: Literature Reviewmentioning

confidence: 99%

Internal controls and credit risk relationship among banks in Europe

Akwaa-Sekyi

Moreno

2017

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Purpose: The study purport to investigate the effectiveness of internal control mechanisms, investigate whether evidence of agency problem is found among banks in Europe and determine how internal controls affect credit risk. Findings: There is still high credit risk in spite of measures being implemented by the European Central Bank. Banks have individual entity factors that increase or decrease credit risk. The study finds effective internal control systems because objectives of internal controls are achieved and significantly determine credit risk. Agency problem is confirmed due to significant positive relation with credit risk. There is significant effect of internal controls on credit risk with specific variables as risk assessment, return on average risk weighted assets, institutional ownership, bank size, inflation, interest rate and GDP.-25-Intangible Capital -http://dx.doi.org/10.3926/ic.911 Research limitations/implications:Missing data prevented the use of strongly balanced panel. The lack of flexibility with using quantitative approach did not allow further scrutiny of the nature of variables. However, statistical tests were acceptable for the model used. The study has implications for management and owners of banks to be warry of agency problem because that provides incentive for reckless high risk transactions that may benefit the agent than the principal. Management must engage in actions that profile the company better and enhances value maximization. Rising default risk has tendency to impair corporate image leading to loss of reputational capital. Originality/value:The study provides the use of quantitative approach to measuring certain phenomena within the discipline of internal controls. The study adds to a previous study by same authors and confirming the agency problem in a different approach.

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A Comparative Study of Well-established Internal Control Models

Cited by 12 publications

References 1 publication

An Overview on the Development of Internal Control in Public Sector Entities: Evidence from Kosovo

An Overview on the Development of Internal Control in Public Sector Entities: Evidence from Kosovo

Tác động của kiểm soát nội bộ đối với rủi ro tín dụng - Trường hợp tại ngân hàng thương mại cổ phần có vốn nhà nước ở Việt Nam

Internal controls and credit risk relationship among banks in Europe

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