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:: Volume 2, Issue 1 (modern theories of accounting,spring 2012,vol2,no.1,ser.3 2012) ::
3 2012, 2(1): 55-88 Back to browse issues page
Assessing the Compliance of Municipalitie's Internal Auditing Unit Performance with International Standards of Internal Auditing
Jafar Babajani , Abdolkhalegh Khonaka
Abstract:   (2310 Views)
One of the important duties of municipalitiesis to enhance their accountability via financial reporting on the use of public resources. Along these lines, auditing prepares the ground for evaluating the degree of accountability. Auditing triangle (auditing committee, internal auditor, and external auditor) is one of the most important mechanisms for evaluating accountability and corporate governance. Internal auditing units that are establishedto evaluate the efficiency and effectiveness of municipalities’ operation must be efficient and effective as well. Therefore, evaluating the performance of these units seems quite necessary.
In recent years, several municipalities in Iran have established internal auditing units whose performancehas not been investigated yet. In the preset research, the performance of internal auditing units in municipalities of Iran’s metropolises was evaluated according to international internal auditing standards set by “The Institute of Internal Auditors”. The informationrequired were gathered through conducting interviews with internal auditing units’ managers and their assistants as well as heads of internal auditing groups and chief auditors. 
The results indicated that internal auditing units have focused on financial auditing and mostly compliance auditing at the expense of operational accounting. Besides, financial resources of internal auditing units are limited and most of themdo not enjoy enough autonomy.Therefore, their effectiveness is low. No specific internal auditing standard is used by internal auditing units. Furthermore, their auditing is accomplished within the framework of auditing accounting documents. Research findings indicate that, in general, internal auditing units have the most compliance with “Performing Engagement Standard” and the least compliance with “Nature of Work Standard”, indicating that their overall compliance with international standards is by no means satisfactory.
Keywords: internal auditing unit, internal auditing, performance evaluation, internal auditing international standards
Full-Text [PDF 2359 kb]   (220 Downloads)    
Type of Study: Research | Subject: General
Received: 2012/01/25 | Accepted: 2012/03/16 | Published: 2012/03/20
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Babajani J, Khonaka A. Assessing the Compliance of Municipalitie's Internal Auditing Unit Performance with International Standards of Internal Auditing. 3 2012; 2 (1) :55-88
URL: http://mta.raja.ac.ir/article-1-61-en.html


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Volume 2, Issue 1 (modern theories of accounting,spring 2012,vol2,no.1,ser.3 2012) Back to browse issues page
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