Author(s)

Georgios L. Thanasas^*, Spyridon Lampropoulos

Department of Management Science and Technology, University of Patras, Patras, Greece.

As a result of the relentless competition in the current economic environment, internal audit is often called upon by organizations to assess and control risks. There have been numerous papers discussing the importance of internal auditing (IA). It is intended to add value to an organization through independent, objective assurance and advisory services related to internal control systems, risk management, and governance. The purpose of this paper is to analyze and present: 1) the ways that internal auditing can be regarded as a value-adding lever for the organizations and 2) the known ways of measurement of the additional created corporate value. Our systematic literature review and critical analysis of how internal audit contributes to value creation allowed us to present all the research streams and measures of value creation that are available. Following this literature review a subsequent econometric analysis of the relationship between internal audit characteristics and added value in the context of a panel of companies will be conducted.

Internal Audit, Creation of Value, Added Value, Literature Review

Thanasas, G. and Lampropoulos, S. (2023) Thriving through Crisis: Unraveling Internal Auditing’s Role in Value Creation. Theoretical Economics Letters, 13, 1322-1340. doi: 10.4236/tel.2023.135074.