Please use this identifier to cite or link to this item: http://dspace.up.edu.ps/xmlui/handle/123456789/203
Title: The effectiveness of internal audit system in reducing the occurrence of errors and frauds in Palestinian services companies
Authors: Saqallah, Hania
Eltaweel, Ebtihaj
Keywords: internal audit system
frauds
Palestinian services companies
audit
Issue Date: 1-May-2016
Publisher: College of Business Administration and Finance, University of Palestine
Abstract: The world is changing, and becoming faster. Have been and are producing massive and major changes, converting it both economic and social activity, and one of the important things that have contributed to this recent changes is an internal audit which is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, diminishing the possibilities of pilfering and governance processes Internal audit began in unsophisticated manner during the Second World War, especially In 1939,when the Nazi Party were the first government to recognize the importance of having a well-controlled mechanism for running an evil, world-conquering regime. The IIA were contracted to undertake a series of efficiency reviews in the early weeks of World War II. At this time many organizations found it difficult to maintain operational efficiency and control. So, Companies appointed special staff (i.e. present day internal auditors) to review operations and report to them. The task starting as an internal business function primarily focused on protection against payroll fraud, loss of cash, and other assets, internal audit’s scope was quickly extended to the verification of almost all financial transactions, and still later, gradually moved from an “audit for management” emphasis to an “audit of management” approach which is assigned to internal auditors. Internal audit activities are performed in diverse legal and cultural environments; within organizations that vary in purpose, size, complexity, and structure; and by persons within or outside the organization. While differences may affect the practice of internal auditing in each environment, compliance with the International Standards for the Professional Practice of Internal Auditing is essential if the responsibilities of internal auditors are to be met. Through an audit, an organization can identify a system’s ineffectiveness, take corrective action, and ultimately support continuous improvement. Unfortunately, a poorly deployed internal auditing system can lead to increased, non-value-added costs, many hours of wasted resources, and an eventual, inevitable QMS breakdown.
Description: The financial scandals and claims of financial fraud and the financial crises that have occurred in recent years, Prove the weak of internal audit systems in many companies, this weaknesses can be clear in the most of organizations in Palestinian economy , and for the importance of services companies in Palestine society, this research will examine the internal audit system for one of the most important services companies exactly in our recent time, which provide citizens with essential electricity to continue their life correctly and to check if there is an impact of electricity company's internal audit system in decreasing the possibilities of frauds and scandals that can affect the quality of its services negatively.
URI: http://dspace.up.edu.ps/xmlui/handle/123456789/203
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