EVALUATING THE RISKS OF THE PUBLIC ENTITIES THROUGH AUDIT AND THROUGH THE MANAGEMNT OF THE AUDIT RISK

TAVALA Florina-Maria , Lucian Blaga University of Sibiu

Abstract:
Amid the increasing complexity of the public entity’s tasks, the continuous development and modification of the legal framework, the decentralization of liability, the risk tends to install itself in the central of the concerns of the entities. For a long time, specialists have argued that we are living in a civilization of risk, that the benefits of any action are proportionate with the assumed risk. Therefore, decisive in making a performance achievement of the activities of any public entity is represented by controlling the risks. This fundamental problem faced by public entities strongly involves the internal audit work. The paper presents the risks from two perspectives: aspects regarding risks faced by public entities and also the risks faced by auditors in their work – the audit risk.

Keywords: risk, internal audit, public entities

JEL Classification: G29, H0, M42

Volume: 70, Issue: 6

Pages: 48 - 61

Publication date: December, 2018

Download the article: http://economice.ulbsibiu.ro/revista.economica/archive/70606tavala.pdf

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