n Risk Management - Realising internal audit value : risk trends

Volume 2, Issue 9
  • ISSN : 1817-6585


Extracted from text ... 18 Risk Management OCTOBER 2006 Corporate failures have provoked great interest in the role and quality of the internal audit function, as well as the obligations and responsibilities of directors, audit committees and external auditors. Many organisations are revisiting their risk management frameworks and challenging the manner in which internal audit and other assurance functions are operating. In South Africa, the King II Report makes specifi c recommendations regarding the obligations and responsibilities of directors towards risk management. In order for the board of directors to discharge these obligations, King II recommends the formation of audit committees and internal ..

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