TITLE:
Research on Voluntary Internal Audit of Irish Business
AUTHORS:
Feiyang Zhao, Zhiquan Zhao
KEYWORDS:
Regulatory Environment, Internal Audit, Corporate Governance, Motivation, Impact, Irish Business
JOURNAL NAME:
Theoretical Economics Letters,
Vol.13 No.5,
October
17,
2023
ABSTRACT: Internal audit provides independent assurance regarding
corporate risk management, internal control, and compliance and is a
crucial component of the corporate governance framework. In contrast to
auditing requirements in other nations, voluntary internal auditing has become
integral to management decision-making in Irish businesses. The paper examines
the internal and external factors and motivations that have contributed to the
adoption of voluntary audits by Irish companies, analyses the impact of
voluntary internal audits on Irish companies and the current challenges they
face, and suggests that domestic companies, whether listed or not, should take
the initiative to introduce voluntary internal audit systems.