Internal Control Systems : Effectiveness of Internal Audit in Risk Management at Public Sector Enterprises.

Vijayakumar, A. N.; Nagaraja, N.

Public sector enterprises are generally concerned with the delivery of service or beneficial outcome to the public at large with a social interest rather than commercial motive of profit maximization. However, in the process of achieving desired objectives, they have to face all kinds of risks which may be internal or external. The success, therefore, is depending on how far a public enterprise is able to foresee and mange risks. Amongst the several control tools of risk management, internal audit is primarily used as an effective tool to manage operational, financial, legal and regulatory risks. Further, internal audit also facilitates in formulating strategic policies to achieve enterprise goals. This study made an attempt to through a light on the effectiveness of internal audit practices on risk management at the public sector enterprises.

GOVERNMENT corporations; CORPORATE profits; PUBLIC sector; INTERNAL auditing; AUDITORS

BVIMR Management Edge, 2012, Vol 5, Issue 1, p1

0976-0431

Academic Journal