THE FUTURE PERSPECTIVES OF THE INTERNAL AUDIT FUNCTION

The aim of the paper is to provide an overview over the challenges and opportunities thatinternal auditors are going to face with, in the context of current economic and financial worldwide crisis.Using fundamental type of research, but also combining inductive with deductive type of research, we haveidentified several key trends that will certainly influence next perspectives of internal audit function in thecoming period. Our findings show us that next future will give some important challenges for the internalauditors, consisting in developing skills in assessment the effectiveness of risk management which will helpto increase the added value provided by the internal audit, and most importantly, will increase internalaudit’s accountability. Even more the international professional bodies that coordinate internal auditactivity will have to make all necessary efforts for the development of practical guidelines for assessing theeffectiveness of risk management so internal auditors to be equipped with the necessary skills to face with thehigher and higher expectations that will characterize the future perspectives of the internal auditing.internal audit function, risk management, internal auditor, added value, internal audit standards

1st INCF Workshop on Neuroanatomical Nomenclature and Taxonomy

The goal of this workshop was to agree on a general strategy for developing a systematic, useful, and scientifically appropriate framework for neuroanatomical nomenclature. The workshop focused on general principles that will serve as a basis for future decisions on implementation strategies. The report discusses the problems arising from the use of different parcellation schemes and use of different terminologies and highlights the need of a universal vocabulary for describing the structural organization of the nervous system. Workshop participants encourage the creation of an International Coordinating Committee for Neuroanatomical Nomenclature and propose short- and long-term goals for such a committee

A FEW CONSIDERATIONS REGARDING THE SPHERE OF FINANCIAL RELATIONS

The author discusses his financial affairs sphere, looking at this issue under a double aspect: analysis of the financial relations sphere and analyzing the financial activity sphere. Analysis of the financial relations sphere is made on the basis of foufinancial sphere, distribution operations, financial operations, transfer, needs.

SOME ARGUMENTS THAT JUSTIFY THE AUDIT TRINITY’S APPROACH IN THE CONTEXT OF CORPORATE GOVERNANCE

The purpose of this paper is to develop a synthesis of the main arguments that could justify the necessity of audit trinity’s approach (internal audit, external audit, audit committee) in assuring good corporate governance. The aim of the paper is also to synthesize relevant theoretical and empirical latest literature that argues the significance of audit functions as an important mechanism in the effective functioning of corporate governance system. From methodological point of view, the construction of this paper has adopted a normative approach, the research being primarily, based on a examination of relevant literature, with a focus on developments that have more or less implications over the progress of corporate governance issues, especially in these difficult economic context that requires urgently the adopting of effective solutions. By presenting on overview over the latest literature ad discussing the shifting demands with respect to the audit’s contribution to ensuring good corporate governance, the author of this paper hopes to stimulate further research and constructive debates in the field.Internal audit, external audit, audit committee, corporate governance, audit trinity

INFORMATION AND COMMUNICATION IN BANKS - KEY ELEMENTS OF THE INTERNAL CONTROL SYSTEM – AN EMPIRICAL ANALYSIS BETWEEN ROMANIAN, AMERICAN AND CANADIAN MODELS OF CONTROL

The purpose of this paper is to focus on one of the most important aspect of the internal control in banking system – information and communication - trying to identify on which of the two well-known international models of control (COSO or CoCo) iInformation, Communication, COSO model, CoCo model, Romanian framework

STUDY REGARDING THE QUALITY OF THE TRUE AND FAIR VIEW SUPPLIED BY THE FINANCIAL STATEMENTS FROM FINANCIAL AUDITOR'S POINT OF VIEW

The concept of "true and fair view" is a very subjective one , which didn't find yet the definition general accepted and in this way we can't say that there are relevant instruments for measuring the level of the fidelity reflected in the financial statements. The financial audit plays an important role for delimitating the true and fair view supplied by the financial statements and despite the fact that the financial auditors are consciences that there isn't a mathematical formula or other kind of formula through which could be possible to measure the level of the fidelity and the true and fair view of the financial statement, they consider that they have the possibility to identify the situations in which the financial statements didn't present the reality true and fair, using the professional though to determine the level of the financial statements to give a true and fair view We have made an empirical survey which permits us to analyze the quality of the true and fair view supplied by the financial statements from the point of view of the financial auditor, without having the pretentious of using all the significant aspects.true and fair view, financial audit, survey, financial auditor, financial statements

MEASURING AND ASSESSMENT OF INTERNAL AUDIT’S EFFECTIVENESS

The evolution of internal auditing in the last period was a very dynamic one, being affected by the increasing attention for its role in corporate governance, especially because of its links with internal control and risk management systems. Internal audivalue added, internal audit’s effectiveness, qualitative methods, quantitative methods, balanced scorecard