Suchergebnisse

• eBook-Kapitel aus dem Buch Managing Risks in Supply Chains

  An Empirical Investigation into Supply Chain Vulnerability Experienced by German Firms

  Stephan M. Wagner, Christoph Bode
• eBook-Kapitel aus dem Buch Managing Risks in Supply Chains

  Enterprise and Supply Risk Management from the Perspective of Internal and External Auditors

  Michael Henke, Reiner Kurzhals, Christopher Jahns

  …Institute of Internal Auditors, 2004. Standards for the Professional Practice of Internal Audit- ing. Performance Standard 2110 – Risk Management. Altamonte…
• eBook-Kapitel aus dem Buch Managing Risks in Supply Chains

  Managing Risk and Complexity in the South African Automotive Supply Chain in A Black Economic Empowerment (Bee) Environment: A Case Study

  Gideon Horn

  …and lost sales. As far as potential suppliers to OEMs are concerned, they are audited prior to contract placement. The audit covers aspects such as…
• eBook-Kapitel aus dem Buch Wettbewerbsvorteil Risikomanagement

  Aus Strategierisiken Chancen für eine wertschöpfende Markenführung machen

  Wolfgang Schiller

  …im Rahmen des von SCHILLER BRAND COMPANY angebotenen Instrumentes BRAND AUDIT®, vgl. Schil- ler/Erben/Hebeis (2005), S. 272. Vertiefende…
• eBook-Kapitel aus dem Buch Wettbewerbsvorteil Risikomanagement

  Risikoartenübergreifende Steuerung in Industrieunternehmen

  Marc Felix Köhne

  …eines Audit Committees Aufgaben des Audit Committees sind u.a. die Überwachung der Wirksamkeit • des Internen Kontrollsystems • des… …: Beschreibung der wesentlichen Merkmale des rechnungslegungs- bezogenen Internen Kontrollsystems und des Risikomanagementsystems Einrichtung eines Audit… …Committees Aufgaben des Audit Committees sind u.a. die Überwachung der Wirksamkeit • des Internen Kontrollsystems • des Risikomanagementsystems • der… …, bzw. die Verantwortung des Audit Committees präzisiert (8. EU-Richtlinie). Aber auch diese Richtlinien verbleiben bezüglich der konkreten… …eine solche in der Vergangenheit noch keinen Prüfungsausschuss (auch Audit Commit- tee) eingerichtet haben, so wird dies spätestens nach Umsetzung der 8… …. EU- Richtlinie in deutsches Recht zwingend. Im Zusammenhang mit Risikomanagement wird es Aufgabe des Audit Commit- tees sein, die Überwachung der…

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• eBook-Kapitel aus dem Buch The Role of Internal Audit in Corporate Governance in Europe

  Introduction

  European Confederation of Institutes of Internal Auditing (ECIIA)

  …advantages coming out of SOX. Furthermore in most of the companies listed in the US, the role of Internal Audit has been reduced to testing and documenting… …compliance with the SOX requirements. This means that there often is no capacity left to perform other audits or execute audits based on risk-oriented audit… …plans. It is an observation of many Chief Audit Executives of Global Player companies in Europe not listed in the US – that stakehold- ers transfer more… …Corporate Gov- ernance activities do we have in Europe? Which role should Internal Audit play in that context? With this background, the Management Board… …a specific view on Internal Audit and – based on this survey – has drawn up this Position Paper. The objectives of this ECIIA Position Paper are to… …8 to summarise the common understanding of an up-to-date Internal Audit Function2 in European companies and hence to formulate proposals for an… …enhanced role of Internal Audit in the whole Corporate Governance discussion in Europe. The ECIIA and its affiliates in the European countries see a… …current need for the above as the awareness about the value Internal Audit can deliver in or- der to realise good Corporate Governance could be… …responsibility of the members of the Board of management. A link to what extent a good and efficient Inter- nal Audit Function can on the one hand support the… …member institutes of the ECIIA. Chapter 3 summarises the most important aspects of an up-to-date Internal Audit Function and in Chapter 4, the ECIIA has…

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• eBook-Kapitel aus dem Buch The Role of Internal Audit in Corporate Governance in Europe

  Results of the Survey

  European Confederation of Institutes of Internal Auditing (ECIIA)

  …Internal Audit, i. e. the corresponding national Institute of Internal Auditing. Please find a blank specimen of the survey as attachment 1. 2.1 General… …decides on the Board’s compen- sation, and an audit committee as the link between the Board and the com- pany’s (internal and external) auditors and as a… …makes mandatory the ex- istance of Audit Committee. The two Spanish Corporate Governance codes, Olivencia (1998) and Aldama (2003) where unified in May… …, includes the existence of the Internal Audit Function and considers the internal auditor as a senior officer within the organisation, reporting either to… …: France: “Corporate Governance is a familiar notion amongst 96 % of Chief Audit executives” Norway: “Corporate Governance is undergoing implementation and… …(audit committee, compensation committee, nomination committee) (79 %), and with respect to improved clarity and relevance of finance disclo- sures (66 %)… …acceptance of Corporate Governance in companies practice today. 2.2 Specific questions regarding the current involvement of Internal Audit in Corporate… …first draft. In France very significant reports were published during the 1990s with consul- tation of IIA France that refer to Internal Audit. This is… …see it as their role to implement CG. 2.2.3 Is the role of Internal Audit defined in the CG-Code/Law? In Austria, the Czech Republic, Italy, Spain and… …the UK the role of Internal Audit is defined in the CG. In France, the “Rapport Bouton” about Corporate Governance refered to the role of the internal…

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• eBook-Kapitel aus dem Buch The Role of Internal Audit in Corporate Governance in Europe

  State of the art Internal Audit

  European Confederation of Institutes of Internal Auditing (ECIIA)

  …23 3 State of the art Internal Audit In this chapter we intend to summarise some important aspects of a “state of the art” Internal Audit… …practice. This is helpful to understand the propos- als we make in chapter 4. A properly organised and working Internal Audit Function can and must play an… …enhanced role in Corporate Governance as the survey showed that the current role of Internal Audit is still quite minor in comparison with other parties… …. The most important aspects centre around the organisation of the Internal Audit Function within companies as well as its relationship with other stake-… …regarded as a common denominator of Corporate Governance content (see chapter 2.1.1). 3.1 Position of Internal Audit in a Corporate Organisation Internal… …Audit’s place in a corporate organisation should ensure an extended degree of independence. Internal Audit should represent an institution with a detached… …perspective on business processes. This detached position quali- fies Internal Audit to provide reasonable and unbiased advice and assurance with regards to… …the board’s liability and responsibility has recently been emphasized by legislation it is advisable to have Internal Audit assigned and directly… …unrestricted access to information for Internal Audit can also be ensured. 3.1.1 Organisation of Internal Audit Function The decision as to what extent the… …Internal Audit Function should be organ- ised centrally or should adopt a federated structure is generally dependent on the nature of the corporate…

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• eBook-Kapitel aus dem Buch The Role of Internal Audit in Corporate Governance in Europe

  Proposals for the Role of Internal Audit in Corporate Governance in Europe

  European Confederation of Institutes of Internal Auditing (ECIIA)

  …39 4 Proposals for the Role of Internal Audit in Corporate Governance in Europe Bearing in mind the current role of Internal Audit shown in the… …survey in chapter 2 and the abilities of a state of the art Internal Audit Function de- scribed in chapter 3 the ECIIA proposes the following focal points… …for Inter- nal Audit in the context of Corporate Governance. 4.1 Supporting an Effective Enterprise Risk Management Internal Audit should provide… …audit committees and boards of directors with assurance of the effectiveness of processes and over the reporting and management of key risks. Morevover… …, Internal Auditors should assist both management and the audit committee and board of directors by evaluating and recommending improvements on the adequacy… …Governance policies as well as compliance with laws and regulations need to be monitored by the management. The Internal Audit Function provides ob- jective… …assurance to the Board that theses processes are effective. The Inter- nal Audit Function may also advice, such as making whistlebower hotlines more… …audit plan should also include a review of the organisation’s compliance program and its procedures including reviews to determine whether it can be… …clearly documented by the Internal Audit Function, with reference to the International Standards. However, in improving an organi- sation’s compliance with… …roles. Moreover, Internal Audit should hold regular 40 meetings with the board or its audit committee, and with the CEOs, to en- sure frequent review…

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• eBook-Kapitel aus dem Buch The Role of Internal Audit in Corporate Governance in Europe

  Conclusion and further steps

  European Confederation of Institutes of Internal Auditing (ECIIA)

  …45 5 Conclusion and further steps With this Position Paper the ECIIA wants to clarify and underline a strength- ened Role of Internal Audit in the… …show that there is room for improve- ment. Selected aspects of a state of the art Internal Audit Function were described to underline the value a… …properly organised and well working Internal Audit Function can deliver in order to meet the objective of having good Corporate Governance within European… …Corporate Governance Forum and the European Corporate Gov- ernance Institute. The objective is to establish the need for a strong Internal Audit Function… …Audit Department.…

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