Proceedings

Based on the above tables, we propose to develop a ranking for the good practices
and uncertain practices, from both their proposal and their application, starting from
the display order by descending means (first 5 means and last 5 means).
From the point of view of their proposals, the good practices from the respondents’
point of view are:
� Internal audit carries out its activities taking in consideration the strategic and
operational risks identified at the level of each major function within the entity.
� Chief of internal audit department should communicate to the audit committee
the illegal acts or irregularities perpetuated or tolerated by management.
� 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.
� Internal audit should be placed in the hierarchical structure of the entity in
order to ensure the greatest independence as possible.
� Internal audit should discussed with the audit committee the internal audit plan,
major findings that have resulted from internal audit work activities, but also
major information about the monitoring of follow-up of audit findings.
� Internal audit should develop a strong partnership with external audit, based
on mutual trust.
� Internal audit should be a relevant source of information on major fraud and
irregularities.
� Internal audit should monitor the follow-up of internal audit, but also external
audit recommendations, communicating the results to the audit committee.
From the point of view of their proposals, the uncertain practices from the
respondents’ point of view are (their mean is around 3,4-3,6 ):
� Internal audit should include in the internal audit plan, the objectives that are
referring at the providing of accurate and transparent information.
� Internal audit should promote to the audit committee the best practices over the
internal controls procedures and risk management.
� Internal audit, with the audit committee’s approval might propose the internal
audit report’s publication for the ensuring a greater transparency required by a
good corporate governance.
� Internal audit assists board/audit committee in self-assessment of its corporate
governance effectiveness.
� Internal audit should develop an internal audit charter complementary with the
audit committee’s charter.
� Internal audit is consulted about the choice/changing of external audit firm that
would realise the external audit.
From the point of view of their application, the good internal audit practices which
are more applied, taking in consideration their mean (around 3,5-3,7, which means
these practices are between rarely and often applied):
� Internal audit should discussed with the audit committee the internal audit plan,
major findings that have resulted from internal audit work activities, but also
major information about the monitoring of follow-up of audit findings
� The recommendations issued by internal audit should be focused firstly for
more effective and efficient use of resources.
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