Athenaeum University


Double Blind Review Evaluation

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ISSN-L 2065 - 8168
ISSN (e) 2068 - 2077
ISSN (p) 2065 - 8168

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| OLD SITE AIMR |

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THE ROLE OF INTERNAL CONTROL IN THE GOVERNANCE OF THE UNDERTAKING

 

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  1. Authors:
      • Emilia VASILE, email: rector@univath.ro, Afiliation: University Athenaeum, Bucharest
      • Ion CROITORU, email: ion.croitoru.ag@gmail.com, Afiliation: University Athenaeum, Bucharest

    Pages:
      • 45|55

  2. Keywords: internal control, enterprise governance, the integrated framework, control tools, control environment, control functions, governance system.

  3. Abstract:

    Governance is a key element in increasing economic performance, being responsible for developing development policies and strategies, building the organizational structure with roles and responsibilities, developing and applying ethical principles, promoting values, and implementing internal control. Business governance through established good practice-based management systems responds to the interests of shareholders, investors, creditors and other stakeholders, harmonizes relationships of any type with the environment in which it operates and is responsible for effectively and efficiently delivering organizational objectives. <i style="\&quot;font-size:" 11.5px;\"="">Internal control is a function of management, with which it exercises its responsibilities and influence over all other managerial functions. Through control, management ensures that the objectives, credibility of financial reporting, efficiency and effectiveness of operations, compliance with applicable laws and regulations are ensured. The internal control function ensures the company’s management the proper and regular performance, efficiency, economy and efficiency of its tasks, fund and patrimony protection, compliance with laws and regulations, as well as the existence of specific, efficient and effective information and reporting systems and procedures. 

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