QUANTITATIVE AND QUALITATIVE ANALYSIS IN ECONOMICS
ESTABLISHING AN EFFECTIVE INTERNAL IT – AUDIT FUNCTION AND CONTROL
Vesna Mladenović, Ognjen Radović
Abstract: By separating the management and ownership function within the company, the conflict of interest arises. Namely, the management aims to improve the business, while the owner wants the real results and the security of the invested capital. Audit function eliminates this conflict. This paper highlights the purpose of improving the effectiveness of internal audit in the way that can provide benefits for the company according to the concept of independence and the possibilities for avoiding abuse of the audit of modern information technologies - IT audit. For developing an effective internal audit function, first of all, it is necessary to recognize its essential objective in the company. Is the auditors’ goal to show how smart they are and how others in the company are dishonest, incompetent or even corrupted? The ultimate vision of IT audit is to provide the control tools to protect the information assets in the company which is most at risk.
Keywords: information assets, internal control, independence, risk, materiality.
Published: p. 241-253
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