Internal Control Frameworks and Its Relation with Governance and Risk Management: An Analytical Study
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Mohammed , Mahammed Adil [1] ; Al-Abedi, Thamer Kadhim [2] ; Flayyih, Hakeem Hammood [3] ; Mohaisen, Hussein Ali [1]
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[1] Mustansiriyah University, Iraq
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[2] Al-Mustansiriyah University- College of Administration and Economics, Department of Accounting Iraq
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[3] Ph.D. Candidate at Institut Supérieur de Gestion de Tunis, University of Tunis, Tunis. ; College of Administration and Economics University of Baghdad, Iraq.
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- Localización: Estudios de economía aplicada, ISSN 1133-3197, ISSN-e 1697-5731, Vol. 39, Nº Extra 11, 2021 (Ejemplar dedicado a: Special Issue on Financial Crises and its effect on the economics of the countries)
- Idioma: inglés
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- Dialnet Métricas: 4 Citas
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Resumen
This study aims at searching in different editions of internal control frameworks and its relation with governance and risk management by dividing the study into three themes. The first one includes studying each framework in terms of the concept of internal control, elements and goals and what makes it different form the latter. The second concerns the relation of internal control with governance and the importance of what it provides to economic unity. The third one and the last regards the relation of internal control to risk management framework and what economic unity will achieve if it managed its risks properly through presenting a number of academic studies that dealt with the subject of the study. The design of this paper depends on reviewing literature during the period (2012-2019) and analyzing results concluded by these literatures concerning the study of internal control framework and its relation with governance and risk management. The study concluded that economic unity cannot achieve its goals and maintain success without an effective management of risks, control and governance. Board of directors and administration both need each other to apply governance, risk management and control effectively.
