INTERNAL AUDIT FUNCTION AND ITS ROLE IN THE PROCESSES OF RISC MANAGEMENT

Cristina DOLGHI Universitatea de Stat din Moldova

Abstract

Internal audit as a component of the internal system of risk management objectively examines activity of a legal person and is aimed to offering insurance and consultations to the managers with the view to reaching their objectives by giving recommendations for consolidation of the efficacy of the results of their activity. The importance of risk management as an activity lies in the possibility to forecast production of a risk event to one extent or another and to take necessary decisions in time in order to reduce risks of some eventual unfavorable consequences. Keywords: audit, audit profession, risk management processes, control procedures, auditing standards, economic entity, economic elements, enterprising, business risks, minimizing the risk, financial reporting, professional ethics.