GLOBALIZATION, SMALL AND MEDIUM SIZED ENTERPRISES AND IN-TERNAL AUDIT: REQUIREMENTS AND CHALLENGES

Ilhomjon Qodirov

Authors

 

  Brauweiler, Hans-Christian – Prof. Dr. rer. pol. Dr. h.c. WHZ Westsächsische Hochschule Zwickau (University of Applied Sciences) Scheffelstr. 33, Building 6, D-08066 Zwickau, Germany, cbrauweiler@hotmail.com; christian.brauweiler@fh-zwickau.de

 

Annotation

 

  The need to standardize procedures and tackle similar questions of auditing, risk management, controlling and similar related topics is vast, especially, but not exclusively in multinational companies. However, smaller companies more and more find themselves in a position to act more globally – or at least internationally – in terms of sourcing as well as sales. This brings new needs for and new foci on topics as Internal Audit as well as Corruption Prevention. This article gives some ideas, hints and challenges towards these topics. In order to clarify the views expressed in this article, the author first gives some general information about internal audit, such as its definition, tasks and objectives, its historical development, legal background, structure and implementation, in order to make clear, on which aspects and understanding the argumentation is based. This introduction will provide a theoretical basis for the description and identification of the potential problems and possible challenges in an international perspective.

 

References

 

  1. Amling, Thomas; Bantleon, Ulrich: Handbuch der Internen Revision; Erich Schmidt Verlag, Berlin 2007.
  2. Berwanger, Jörg; Kullmann, Stefan: Interne Revision; 2nd edition; Gabler, Wiesbaden 2012.
  3. Brauweiler, Hans-Christian (Hrsg.): Unternehmensführung heute, Oldenbourg, München, 2008.
  4. Brauweiler, Hans-Christian: Claimmanagement, Springer, 2015.
  5. Brauweiler, Hans-Christian: Risikomanagement in Banken und Kreditinstituten, Springer, 2015
  6. Brauweiler, Hans-Christian: Risikomanagement in Unternehmen, Springer, 2015
  7. Buchner, Robert: Wirtschaftliches Prüfungswesen; Vahlen, München 1997.
  8. Bungartz, Oliver: Internationale Standards für die berufliche Praxis der Internen Revision, 2016, URL: http://www.internerevisiondigital.de/ce/internationale-standards-fuer-die-berufliche-praxis-der-internen-revision/detail.html (Access on 16.11.2016).
  9. Chartered Institute of Internal Auditors: Definition of internal auditing, 2016, URL: https://www.iia.org.uk/resources/global-guidance/definition-of-internal-auditing/ (Access on 16.11.2016).
  10. Coetzee, G.P.; du Bruyn, Rudrik.: The relationship between the new IIA Standards and the internal auditing profession, in: Meditari Accountancy Research, Vol. 9 Iss: 1, pp. 61 – 79, 2001.
  11. Egner, Thomas: Grundlagen der internen Revision, in: Freidank, Carl-Christian; Peemöller, Volker H. (Ed.): Kompendium der Internen Revision; Erich Schmidt Verlag; Berlin 2011.
  12. Ernst & Young: Challenges of the global internal audit function, 2013, URL: http://www.ey.com/Publication/vwLUAssets/ViewPoints:_Challenges_of_global_internal_audit/%24FILE/ACLS_ViewPoints-Challenges_of_global_internal_audit_May%202013_AU1630.pdf (Access on 22.11.2016).
  13. Ruud, T. Flemming; Bodenmann, Jan Marc; Kienast, Matthias: Entwicklung in der Internen Revision, in: Der Schweizer Treuhänder, Vol. 10, pp. 1029 – 1036, 2000.
  14. Freidank, Carl-Christian.; Pasternak, Nyls-Arne: Theoretische Fundierung der Internen Revision, in: Freidank, Carl-Christian; Peemöller, Volker H. (Ed.): Kompendium der Internen Revision; Erich Schmidt Verlag; Berlin 2011.
  15. Füss, Roland: Die Interne Revision; Erich Schmidt Verlag, Berlin 2005.
  16. Grabmann, Elisabeth; Hofer, Daniel: Impact Factor on the Development of Internal Auditing in the 21st Century, in: ACRN Journal of Finance and Risk Perspectives, Vol. 3, Issue 3, November 2014, pp. 67–80, 2014.
  17. Graf Stillfried, Norbert: Die bedrohte Unabhängigkeit Interner Revisoren in Deutschland, 2015, URL: https://www.transparency.de/fileadmin/pdfs/Themen/Wirtschaft/Die_Unabhaengikeit_Interner_Revisoren_in_Deutschland_ausfuehrliche_Ergebnisse_CD.pdf (Access on 20.11.2016).
  18. Hein, Gert: Management Auditing, in: Lück, Wolfgang (Ed.): Lexikon der internen Revision; 1st edition; Oldenbourg Wissenschaftsverlag, München 2001.
  19. Hoffmann, Friedrich: Interne Revision, in: Coenenberg, Adolf, G.; Wysocki, Klaus v. (Ed.): Handwörterbuch der Revision; Poeschel Verlag, Stuttgart, 1992.
  20. Hofmann, Rolf: Prüfungs-Handbuch, Erich Schmidt Verlag; Berlin 2005.
  21. Knapp, Eckhardt: Interne Revision und Corporate Governance; Erich Schmidt Verlag; Berlin 2009.
  22. Krogstad, Jack L.; Ridley, A.J.; Rittenberg, L.E.: Where we`re going, in: Internal Auditor Vol. 56, No. 5, pp. 27–33, 1999.
  23. Lindner, Manfred: Interne Revision, in: Jahns, Christopher; Heim, Gerhard (Ed.): Handbuch Management; Schäffer-Poeschel Verlag; Stuttgart 2003.
  24. Lück, Wolfgang: Die Zukunft der Internen Revision; Erich Schmidt Verlag; Berlin 2000.
  25. Lück, Wolfgang: Lexikon der internen Revision; Oldenbourg Wissenschaftsverlag; München 2001.
  26. Ossadnik, Wolfgang: Controlling; Oldenbourg Wissenschaftsverlag; München/Wien 2009.
  27. Peemöller, Volker H.: Entwicklungsformen und Entwicklungsstand der Internen Revision, in: Freidank, Carl-Christian; Peemöller, Volker H. (Ed.): Kompendium der Internen Revision; Erich Schmidt Verlag; Berlin 2011.
  28. Peemöller, Volker H.: Interner Revisor, in: Förschle, Gerhart; Peemöller, Volker H. (Ed.): Wirtschaftsprüfung und interne Revision; Verlag Recht und Wirtschaft; Heidelberg 2004.
  29. Peemöller, Volker H.: Stand und Entwicklung der Internen Revision, in: Freidank, Carl-Christian; Peemöller, Volker H. (Ed.): Corporate Governance und Interne Revision; Erich Schmidt Verlag; Berlin 2008.
  30. Peemöller, Volker H.; Kregel, Joachim: Grundlagen der Internen Revision; Erich Schmidt Verlag, Berlin 2010.
  31. Ramamoorti, Sridhar: Internal Auditing, in: Bailey, Andrew, D.; Gramling, Audrey, A.; Ramamoorti, S. (Ed.): Research opportunities in internal auditing; Altamonte Springs, Florida 2003.
  32. Spencer Pickett, K. H.: The Internal Auditing Handbook; Wiley; London 2003.
  33. Strouhal, Jiří; Bonaci, Carmen; Mustata, Razvan V.: Corporate Governance and Financial Crisis, in: International Advances in Economic Research, Vol. 18 No. 1, pp. 122 f., 2012.
  34. The Institute of Internal Auditors (IIA): International Standards for the Professional Practice of Internal Auditing, 2016, URL: http://www.theiia.org/guidance/standards-and-guidance/ippf/standards/full-standards/?search=risk (Access on 21.11.2016).
  35. The Institute of Internal Auditors (IIA): Practice Advisories, 2010, URL: http://www.theiia.org/bookstore/downloads/freetomembers/0_2032.dl_pas.pdf (Access on 20.11.2016).
  36. Wagner, Tobias; Brauweiler, Hans-Christian: IFRS für Venture Capital-Unternehmen, Expert-Verlag, 2011.
  37. Wiesemann, Bernd: Interne Revision: Erwartungen der Bankenaufsicht, 2014, URL: https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Fachartikel/2014/fa_bj_1403_interne_revision.html (Access on 20.11.2016).