Please use this identifier to cite or link to this item: https://hdl.handle.net/1959.11/14503
Title: The role of internal auditing in risk management
Contributor(s): Mihret, Dessalegn (author); Khan, Ashfaq A  (author)
Publication Date: 2013
Handle Link: https://hdl.handle.net/1959.11/14503
Abstract: This paper is based on a theoretical analysis of the role of internal auditing in the accountability framework of contemporary corporate governance. We conceptualize the risk management rationale of internal auditing by drawing on the concept of accountability. We locate the emergence of internal auditing within the metamorphosis of capitalism. It is argued that this development produced the institutionalization of structural control of the firm to address the control problem in the inherently conflicting relationships that characterize accountability relations of capitalist enterprises. The exercise of control in this context entails ensuring accountability of employees, management and the board of directors to shareholders to increase profit. The extant literature does not provide an integrated conceptual framework that explains the role of internal auditing with a holistic view of this accountability landscape. This paper explains how the accountability relations of advanced capitalism create conditions that produce the demand for internal auditing as a risk management technology deployed to advance the managerial values of efficiency and effectiveness of the firm through assurance and advisory services.
Publication Type: Conference Publication
Conference Name: APIRA 2013: 7th Asia Pacific Interdisciplinary Research in Accounting Conference, Kobe, Japan, 26th - 28th July, 2013
Conference Details: APIRA 2013: 7th Asia Pacific Interdisciplinary Research in Accounting Conference, Kobe, Japan, 26th - 28th July, 2013
Source of Publication: Proceedings of the 7th Asia Pacific Interdisciplinary Research in Accounting Conference, p. 1-17
Publisher: APIRA Conference Committee
Place of Publication: online
Field of Research (FOR): 150499 Commercial Services not elsewhere classified
150399 Business and Management not elsewhere classified
150199 Accounting, Auditing and Accountability not elsewhere classified
Socio-Economic Outcome Codes: 900202 Professional, Scientific and Technical Services
900201 Administration and Business Support Services
Peer Reviewed: Yes
HERDC Category Description: E1 Refereed Scholarly Conference Publication
Other Links: http://www.apira2013.org/proceedings/pdfs/K224.pdf
http://www.apira2013.org/proceedings/
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Appears in Collections:Conference Publication
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