The role of internal auditors in preventing financial fraud in the Republic of Serbia
Financial fraud poses a significant threat to the stability and integrity of financial systems around the world. The Republic of Serbia, as an economy in dynamic development, is no exception to this challenge. This research paper investigates the key role of the profession of internal auditors in th...
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| Format: | Article |
| Language: | English |
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Visoka poslovna škola strukovnih studija Prof. dr Radomir Bojković, Kruševac
2023-01-01
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| Series: | Trendovi u Poslovanju |
| Subjects: | |
| Online Access: | https://scindeks-clanci.ceon.rs/data/pdf/2334-816X/2023/2334-816X2302063N.pdf |
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| _version_ | 1823859910817873920 |
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| author | Jeremić Nebojša Jakovljević Nemanja |
| author_facet | Jeremić Nebojša Jakovljević Nemanja |
| author_sort | Jeremić Nebojša |
| collection | DOAJ |
| description | Financial fraud poses a significant threat to the stability and integrity of financial systems around the world. The Republic of Serbia, as an economy in dynamic development, is no exception to this challenge. This research paper investigates the key role of the profession of internal auditors in the fight against financial fraud in the Republic of Serbia. By exploring the practices and challenges faced by internal auditors, this paper aims to provide valuable insights and recommendations to strengthen the effectiveness of internal audit functions in detecting and preventing financial fraud. The importance of internal audit as a vital component of corporate governance and risk management was emphasized through a review of relevant literature and consideration of various activities of internal auditors and their role in preventing financial fraud. Internal auditors play a key role in assessing and monitoring internal controls, identifying vulnerabilities and making recommendations to mitigate fraud risk. Examining the legal and regulatory framework that regulates internal audits in the Republic of Serbia, the importance of implementing a strong control environment and effective monitoring mechanisms in preventing financial fraud is highlighted. The paper's conclusions highlight the specific challenges internal auditors face in the Republic of Serbia in preventing financial fraud, such as resource limitations, limited independence and insufficient awareness of fraud. The findings and recommendations presented in the paper can serve as a valuable resource for policymakers, regulatory bodies and organizations seeking to strengthen their financial fraud defense mechanisms and their internal audit function. |
| format | Article |
| id | doaj-art-675cb2687560475c8fdce77351f254a4 |
| institution | Kabale University |
| issn | 2334-816X 2334-8356 |
| language | English |
| publishDate | 2023-01-01 |
| publisher | Visoka poslovna škola strukovnih studija Prof. dr Radomir Bojković, Kruševac |
| record_format | Article |
| series | Trendovi u Poslovanju |
| spelling | doaj-art-675cb2687560475c8fdce77351f254a42025-02-10T19:38:24ZengVisoka poslovna škola strukovnih studija Prof. dr Radomir Bojković, KruševacTrendovi u Poslovanju2334-816X2334-83562023-01-01112637210.5937/trendpos2302063J2334-816X2302063NThe role of internal auditors in preventing financial fraud in the Republic of SerbiaJeremić Nebojša0Jakovljević Nemanja1Telekom, Beograd, SerbiaUniverzitet u Beogradu, Ekonomski fakultet, Beograd, SerbiaFinancial fraud poses a significant threat to the stability and integrity of financial systems around the world. The Republic of Serbia, as an economy in dynamic development, is no exception to this challenge. This research paper investigates the key role of the profession of internal auditors in the fight against financial fraud in the Republic of Serbia. By exploring the practices and challenges faced by internal auditors, this paper aims to provide valuable insights and recommendations to strengthen the effectiveness of internal audit functions in detecting and preventing financial fraud. The importance of internal audit as a vital component of corporate governance and risk management was emphasized through a review of relevant literature and consideration of various activities of internal auditors and their role in preventing financial fraud. Internal auditors play a key role in assessing and monitoring internal controls, identifying vulnerabilities and making recommendations to mitigate fraud risk. Examining the legal and regulatory framework that regulates internal audits in the Republic of Serbia, the importance of implementing a strong control environment and effective monitoring mechanisms in preventing financial fraud is highlighted. The paper's conclusions highlight the specific challenges internal auditors face in the Republic of Serbia in preventing financial fraud, such as resource limitations, limited independence and insufficient awareness of fraud. The findings and recommendations presented in the paper can serve as a valuable resource for policymakers, regulatory bodies and organizations seeking to strengthen their financial fraud defense mechanisms and their internal audit function.https://scindeks-clanci.ceon.rs/data/pdf/2334-816X/2023/2334-816X2302063N.pdfinternal auditauditfinancial fraud |
| spellingShingle | Jeremić Nebojša Jakovljević Nemanja The role of internal auditors in preventing financial fraud in the Republic of Serbia Trendovi u Poslovanju internal audit audit financial fraud |
| title | The role of internal auditors in preventing financial fraud in the Republic of Serbia |
| title_full | The role of internal auditors in preventing financial fraud in the Republic of Serbia |
| title_fullStr | The role of internal auditors in preventing financial fraud in the Republic of Serbia |
| title_full_unstemmed | The role of internal auditors in preventing financial fraud in the Republic of Serbia |
| title_short | The role of internal auditors in preventing financial fraud in the Republic of Serbia |
| title_sort | role of internal auditors in preventing financial fraud in the republic of serbia |
| topic | internal audit audit financial fraud |
| url | https://scindeks-clanci.ceon.rs/data/pdf/2334-816X/2023/2334-816X2302063N.pdf |
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