The Importance of Implementation of Internal Audit in Enterprises Founded by the Republic of Serbia Local Self-government Units
DOI:
https://doi.org/10.4335/17.4.1001-1011(2019)Keywords:
internal audit, local self-government, internal financial control, enterprise, SerbiaAbstract
In the process of EU accession, the Republic of Serbia signed chapter 32 with the EU at the end of 2015. By doing so, the Republic of Serbia officially adopts internationally accepted standards of public internal financial control and best practices of EU countries and their application to the whole public sector. In addition to this, the system of established internal financial controls contributes to the improvement of financial discipline, as well as transparency of use, especially public funds of taxpayers. The authors of the paper conducted a representative survey involving 142 enterprises making approximately 20% of the total number of enterprises founded by local self-government units. The results obtained by the authors indicate a correlation between the type of enterprise, form of internal audit in place and 2018 operating revenues. In addition to that the authors also determined the existence of correlation between the internal audit in place and 2018 revenues on the one and the type of enterprises founded by local self-government units on the other hand.
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