Abstract:
Although risk management is not a new phenomenon, enterprise risk management
(ERM) is a relatively new concept in the business environment. In a very short time,
ERM has established its worth in all sectors. This article investigates the views of
chief audit executives (CAEs), the chairs of audit committees (CACs) and accounting
officers (AOs) with regard to the contribution that the internal audit function (IAF)
makes to ERM in the public sector. This contribution is considered in the context
of existing ERM structures and the level of coordination between ERM and the
IAF. Results indicate that the CAEs have very different views from the other two
categories of respondents, and that the existence of ERM structures has very little
effect on how the contribution of internal auditing to ERM is perceived.
