ROLES AND RESPONSIBILITIES IN THE PROPER IMPLEMENTATION AND FUNCTIONING OF INTERNAL CONTROL OF PUBLIC ENTITIES

HUSERAŞ Alin Teodor, Lucian Blaga University of Sibiu, Romania

GRIGOROI Lilia , Academy of Economic Studies of Moldova

Abstract:
The notion of performance is associated with an ideology of progress, of always doing better. As far as the performance of public entities is concerned, this is harder to quantify than for example, the performance of a company. However, in order for the public sector not to face a budget deficit with inappropriate management or inappropriate resource use, internal control can help with solutions for improving its activities, solutions to reduce inefficient spending and ways to use resources as efficiently as possible. This paper attempts to capture the links and interfaces between the best known and current models that can help organizations to define, design, implement, and develop risk management and the internal control system. This is "The COSO Cube" model presented in 2013 in the COSO Framework & SOX Compliance paper and the "THREE LINES OF DEFENSE IN EFFECTIVE RISK MANAGEMENT AND CONTROL" presented by The Institute of Internal Auditors in January 2013.

Keywords: Performance; internal control; internal/external public audit; efficiency; economics

JEL Classification: H11, H83, H89, M42

Volume: 71, Issue: 1

Pages: 51 - 67

Publication date: March, 2019

Download the article: http://economice.ulbsibiu.ro/revista.economica/archive/71106huseras&grigoroi.pdf

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