Internal audit in state-owned enterprises : perceptions, expectations and challenges

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dc.contributor.author Radasi, P.
dc.contributor.author Barac, Karin
dc.date.accessioned 2016-03-15T12:00:23Z
dc.date.available 2016-03-15T12:00:23Z
dc.date.issued 2015
dc.description.abstract State-owned enterprises are critical vehicles for the delivery of goods and services, and can contribute to the sustainable economic growth of developing countries. The business environments in which these state-owned enterprises operate pose risks to the enterprises, which then rely on internal audit, amongst other options, to managing these risks. The objective of this study was to determine the perceptions of, expectations for and challenges experienced by internal audit functions in today’s state-owned enterprises. A qualitative research approach was selected, utilising a case study method, and data was collected through interviews with important role players associated with the internal audit function of three South African state owned enterprises. The findings of the study revealed that internal audit functions are perceived in a positive light and that participants do place reliance on internal audit. The internal audit functions act as business partners to management, and expect support from the audit committees and management in terms of ensuring the internal audit functions’ independence, and the provision of required resources and skills. The internal audit functions face diverse challenges. These relate to the relative novelty of performance auditing and combined assurance in state-owned enterprises, the differences in methodologies and auditing systems used by outsourced functions, repeat (negative) audit findings, a lack of business knowledge and insight on the part of the entity, and non-compliance with quality assurance and improvement Standards. en_ZA
dc.description.librarian am2015 en_ZA
dc.description.uri http://reference.sabinet.co.za/sa_epublication/sajaar en_ZA
dc.identifier.citation Radasi, P & Barac, K 2015, 'Internal audit in state-owned enterprises : perceptions, expectations and challenges', Southern African Journal of Accountability and Auditing Research, vol. 17, no. 2, pp. 95-106. en_ZA
dc.identifier.issn 1028-9011
dc.identifier.uri http://hdl.handle.net/2263/51887
dc.language.iso en en_ZA
dc.publisher Southern African Institute of Government Auditors en_ZA
dc.rights Southern African Institute of Government Auditors en_ZA
dc.subject State-owned enterprises en_ZA
dc.subject Internal audit function en_ZA
dc.subject Chair of audit committees en_ZA
dc.subject Risk management en_ZA
dc.subject Emerging risks en_ZA
dc.subject Internal audit skills en_ZA
dc.subject Chief audit executives (CAEs) en_ZA
dc.title Internal audit in state-owned enterprises : perceptions, expectations and challenges en_ZA
dc.type Article en_ZA


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