Investigation the Impact of Risk Management and Audit Committee on Industrial Companies

Amir Samimi

Abstract


This study examines the impact of risk management and audit committee on industrial companies. Internal audit is the task of evaluating the work that takes place within the entity under review and by its staff in order to provide service to that entity and it is one of the main pillars of the control environment. Assessing the adequacy and effectiveness of accounting and internal control systems is one of the main tasks of the internal audit unit. Internal audit is an independent and consulting activity with specific objectives that has been designed to create value and improve performance. Internal audit helps the company achieve its goals with a structured approach as a result, the effectiveness of risk management evaluates and improves controls and governance activities. The first goal of the organization's internal control system is providing the reasonable confidence in management. Financial information is accurate and reliable, the organization is in compliance with policies, plans, procedures, rules, regulations and contracts, assets are protected against damage and theft, resources have been used effectively and cost-effectively and the goals set for operations and programs are achievable.


Full Text:

PDF XML

References


Alipour, Sima, Feili, Ardalan, & Sabet, Abbas. (2019). The mediating role of the Green Information Technology (GIT) Acceptance in the relationship between Green University and Sustainable Development of the Environment. Environmental Education and Sustainable Development, 7(4), 25-44. doi: 10.30473/ee.2019.6057

Benaroch, Michel, Lichtenstein, Yossi, & Robinson, Karl. (2006). Real options in information technology risk management: An empirical validation of risk-option relationships. MIS quarterly, 30(4), 827-864.

Collier, Paul MM, Collier, Paul M, Berry, Anthony J, Berry, Andrew, & Burke, Gary TT. (2006). Risk and management accounting: best practice guidelines for enterprise-wide internal control procedures (Vol. 2): Elsevier.

Dinha, D, Powella, R, & Vob, D. (2016). Comparing market-based and accounting-based credit models: A survey of the theoretical literature. Paper presented at the ECU Business Doctoral and Emerging Scholars Colloquium 2016.

Domnikov, A, Chebotareva, G, & Khodorovsky, M. (2013). Systematic approach to diagnosis lending risks in project finance. Audit and Finance analyses, 2, 114-119.

Domnikov, A, Chebotareva, G, Khomenko, P, & Khodorovsky, M. (2015). Risk-oriented approach to long-term sustainability management for oil and gas companies in the course of implementation of investment projects. WIT Transactions on Ecology and the Environment, 192, 275-284.

Domnikov, A, Chebotareva, G, Khomenko, P, & Khodorovsky, M. (2017). Risk-oriented investment in management of oil and gas company value. International Journal of Sustainable Development and Planning, 12(5), 946-955.

García-Gusano, Diego, Espegren, Kari, Lind, Arne, & Kirkengen, Martin. (2016). The role of the discount rates in energy systems optimisation models. Renewable and Sustainable Energy Reviews, 59, 56-72.

Karami, Mojtaba, Samimi, Amir, & Ja'fari, Mahsa. (2020). Necessity to Study of Risk Management in Oil and Gas Industries (Case Study: Oil Projects). Progress in Chemical and Biochemical Research, 239-243.

Mahmoodabadi, H., & Zamani, Z. (2016). Investigating the Relationship between Corporate Risk Taking and Financial Performance with Emphasis on Corporate Governance. Empirical Studies in Financial Accounting, 12(49), 141-170. doi: 10.22054/qjma.2016.4197

Mohammadnazar, Dana, & Samimi, Amir. (2019). Nessacities of Studying HSE Management Position and Role in Iran Oil Industry. Journal of Chemical Reviews, 1(4), 252-259.

Müllner, Jakob. (2017). International project finance: review and implications for international finance and international business. Management Review Quarterly, 67(2), 97-133.

Pompian, Michael M. (2011). Behavioral finance and wealth management: how to build investment strategies that account for investor biases (Vol. 667): John Wiley & Sons.

Powell, Philip L, & Klein, Jonathan H. (1996). Risk management for information systems development. Journal of Information Technology, 11(4), 309-319.

Samimi, Amir, Zarinabadi, Soroush, & Setoudeh, Mehrdad. (2012). Safety and Inspection for Preventing Fouling in Oil Exchangers. International Journal of Basic and Applied science, Indonesia, 1(2), 429-434.

Slaughter, Andrew, Zonneveld, Paul, & Shattuck, Thomas. (2017). Refining at risk: Securing downstream assets from cybersecurity threats. Deloitte Insights, New York, NY, USA, Tech. Rep., Nov.

Soin, Kim, & Collier, Paul. (2013). Risk and risk management in management accounting and control: Elsevier.

Trujillo-Ponce, Antonio, Samaniego-Medina, Reyes, & Cardone-Riportella, Clara. (2014). Examining what best explains corporate credit risk: accounting-based versus market-based models. Journal of Business Economics and Management, 15(2), 253-276.

Yuryevich, Domnikov Alexey, Yakovlevich, Khodorovsky Mikhail, & Mikhaylovich, Khomenko Pavel. (2014). Optimization of finances into regional energy. Economy of Region(2), 248-253.

Zheng, Anna. (2012). Safety and Inspection for Preventing Fouling in Oil Exchangers. International Journal of Chemistry(01), 82-86.


Refbacks

  • There are currently no refbacks.


World of Researches Publication