The internal audit function has been constantly evolving in line with changes in the business environment. Contemporary challenges in the environment are closely related to risk and associated corporate governance issues. Consequently, shifting the internal audit function towards addressing corporate governance problems has called for greater independence of that function. In Slovenia, a new Companies Act was adopted in July 2015. In response to the need for a more independent internal audit function, it requires that decisions regarding the appointment and removal of the chief audit executive as well as their remuneration be approved by the supervisory board. The changes indicate that internal audit’s role in management-governance relationships has altered. The paper provides an overview of these changes, the trends leading to internal audit’s enhanced role in corporate governance, the expected benefits of internal audit’s organizational independence, and future challenges. Interviews were used to support the theoretical findings with observations from key stakeholders in Slovenia.
|Titolo:||Contemporary Role of Internal Auditing in Corporate Governance|
|Citazione:||DI PIETRA, R., Zaman Groff, M., & Sitar, A.S. (2016). Contemporary Role of Internal Auditing in Corporate Governance. DYNAMIC RELATIONSHIPS MANAGEMENT JOURNAL, 5(1), 51-63.|
|Appare nelle tipologie:||1.1 Articolo in rivista|
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