Proceedings

� Their actual applicability was tested by using also Likert scale, where:
(1) – Unknown;
(2) – Known, but never applied;
(3) – Known, but rarely applied;
(4) – Known and often applied;
(5) – Known and always applied.
Next, in Table no.4 and Table no.5 there are presented the frequencies obtained for
the tested internal audit practices from both point of view: their proposal and their
applicability.
No. Proposals for internal audit practices
1 Internal audit should be placed in the
hierarchical structure of the entity in
order to ensure the greatest
2
independence as possible.
Internal audit should develop a strong
partnership with external audit, based
on mutual trust.
3 Chief of internal audit department
should have regular meetings with the
chairman of the audit committee, so that
between them being developed a
relationship based on mutual trust.
4 Internal audit carries out its activities
taking in consideration the strategic and
operational risks identified at the level
Table 4 Proposals for internal audit practices
of each major function within the entity.
5 Internal audit communicate to the
external auditor the risk categories
identified at the level of financialaccounting
function, the deficiencies
discovered and also the
recommendations issued.
6 Internal audit should provide the
support in the reviewing of ethical code
and politics for ensuring there are
correctly and timely communicated to
the employees.
7 Internal audit should realise an analysis
and systematically assessment of the
main functions within the entity, but
also to the internal control procedures
related to them.
8 Internal audit should be a source of
information on major fraud and
irregularities.
9 The recommendations issued by
internal audit should be focused firstly
for more effective and efficient use of
resources.
10 Internal audit should made an
assessment of the accomplished of
corporate goals and objectives.
~ 56 ~
Response options
(1) (2) (3) (4) (5)
Total
0% 0% 17% 13% 71% 100%
0% 0% 17% 17% 67% 100%
0% 8% 21% 13% 58% 100%
0% 0% 13% 17% 71% 100%
0% 0% 29% 17% 54% 100%
0% 4% 17% 29% 50% 100%
0% 0% 13% 17% 71% 100%
0% 0% 21% 13% 67% 100%
0% 0% 21% 25% 54% 100%
0% 8% 17% 25% 50% 100%