RISK MANAGEMENT AND INTERNAL AUDIT: EVIDENCE FROM GREECE

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Abstract

Risk management is ranked by financial executives as one of their most important objectives. For this reason, a wide range of literature on risk management has been developed. Within this fluid business environment, internal audit plays a key role in monitoring a company’s risk profile and identifying areas for improving risk management processes. The purpose of this study is to provide a comprehensive overview of the factors that impact on risk management regarding internal audit function. Empirical evidence was collected by means of a mailed survey. Regression analysis is used in order to illustrate the information gathered. Consistent with theory and our expectations, the results indicate that internal audit, internal auditor and added value of internal audit are statistically significantly associated with risk management.

Keywords: Internal Audit, Internal Auditor, Value-Added of Internal Audit, Risk Management, Auditing

Received: 07.11.2016
Accepted: 06.06.2017

How to cite this paper: Drogalas, G., & Siopi, S. (2017). Risk management and internal audit: Evidence from Greece. Risk governance & control: financial markets & institutions, 7(3), 104-110. https://doi.org/10.22495/rgcv7i3p10