Internal Audit of Financial Operations

Authors

  • Sanja Vezenkoska Faculty of Economics, University “St.Kliment Ohridski” – Bitola, Marksova 133, Prilep 7500, Republic of Macedonia
  • Igor Zdravkoski Faculty of Economics, University “St.Kliment Ohridski” – Bitola, Marksova 133, Prilep 7500, Republic of Macedonia
  • Pece Nikolovski Faculty of Economics, University “St.Kliment Ohridski” – Bitola, Marksova 133, Prilep 7500, Republic of Macedonia
  • Marina Blazhekovich
  • Veronija Nolcheska Faculty of Economics, University “St.Kliment Ohridski” – Bitola, Marksova 133, Prilep 7500, Republic of Macedonia
  • Marija Kimovska Faculty of Economics, University “St.Kliment Ohridski” – Bitola, Marksova 133, Prilep 7500, Republic of Macedonia

Keywords:

internal audit, finance, financial operations, securities.

Abstract

Due to the highly dynamic changes in the market, especially in the capital markets, capital owners and investors need a reliable and independent opinion on the financial statements of companies that are the subject of their interest. Good corporate governance is now considered a basic condition to accept and register an organization in most of the Stock Exchange Markets all over the world. The audit committee plays a major role in corporate governance regarding the organization’s direction, control, and accountability; part of which is the organization’s internal control which is used to provide reasonable assurance about the integrity of management and reliability of the financial reporting. The internal audit is deemed as the core of business accounting as it is the section that keeps track of all businesses associated with the sector. The internal audit efficiency assists in developing the company’s work because the financial reports present the internal audit department’s quality. In addition, an internal audit is a crucial part of corporate governance structure in an organization and corporate governance covers the activities of oversight conducted by the board of directors and audit committees to ensure credible financial reporting process.

References

Zorica B. Lazarevska. Audit. Skopje: Facultu of Economics, 2001, pp. 40.

J.C.Robertson, F.G.Davis. Auditing. Illinois: Liwin, 1988, pp. 5.

W.G. Kell, W.C. Boynton. Modern auditing. USA: Wiley, 1992, pp. 11.

Zorica B. Lazarevska. Audit. Skopje: Facultu of Economics, 2001, pp..

R.L.Ratliff, W.A.Wallace, G.E.Sumners, W.G.McFarland, J.K.Loebbecke. Internal Auditing – Principles and Techniques, second edition. USA: The Institute of Internal Auditors, 1996, pp. 49.

D. Kosarkoska. Accounting. (in Macedonian). Ohrid: FTU, 2008, pp. 170.

B. Aceski, B. Trajkoski. Internal and eksternal audit. (in Macedonian). Prilep: Faculty of Economics, 2004, pp.150.

B. Aceski, B. Trajkoski. Internal and eksternal audit. (in Macedonian). Prilep: Faculty of Economics, 2004, pp.154.

B. Aceski, B. Trajkoski. Internal and eksternal audit. (in Macedonian). Prilep: Faculty of Economics, 2004, pp.160.

Downloads

Published

2017-10-09

How to Cite

Vezenkoska, S., Zdravkoski, I., Nikolovski, P., Blazhekovich, M., Nolcheska, V., & Kimovska, M. (2017). Internal Audit of Financial Operations. International Journal of Sciences: Basic and Applied Research (IJSBAR), 36(3), 224–234. Retrieved from https://www.gssrr.org/index.php/JournalOfBasicAndApplied/article/view/7724

Issue

Section

Articles