The Contribution of the Internal Audit Function in Risk Management

Abstract

This study aimed to identify the contribution of internal audit in risk management in Syrian public and private banks, the questionnaire was used in collecting the initial data, which was distributed to a sample of board of directors and executives in these banks.

The study found that there is a contribution to the internal audit function in risk management in all Syrian public and private banks and there are no statistically significant differences on this contribution.

The study recommended of the need to conduct training courses for workers in the internal audit function and issue instructions and necessary legislations to regulate the activity of internal audit in banks, a committee of internal audit must be formed within the Association of Chartered Accountants in Syria, where its mission is to the development of internal auditors and the need for cooperation of professional organizations of accounting, auditing and regulatory bodies in Syria to establish an association for internal auditors to qualify them and give them a professional certification to carry out their roles under the new framework for exercising of the profession that guarantees to provide the necessary advice and guidance for them to bring the profession up to the required level.