Page 99 - Rižnar, Igor, and Klemen Kavčič (ed.). 2017. Connecting Higher Education Institutions with Small and Medium-Sized Enterprises. Koper: University of Primorska Press
P. 99
Internal Audit in the Financing of Companies
• from companies in the group,
• subventions . . .
Regulations and Rules on Financing
Any management is responsible for the legality of operations and the
prevention and detection of business that is non-compliant with the
legal norms. In so doing, the management can help with the following
policies and procedures (Koletnik and Kolar 2008, 110–1):
• monitor the regulatory requirements and provide methods that
enable compliance with the legal regulations;
• caring for the proper arrangement and operation of internal con-
trol;
• develops, publishes and respects a code of business behaviour for
all employees in the company;
• ensure staff development and an understanding of and respect for
the code of behaviour;
• monitor compliance with the code of business behaviour and dis-
ciplinary action against employees who do not abide;
• employ appropriate experts to assist in setting up and monitoring
the prescribed solution;
• caring for an updated list of important rules and interpretations
that must be respected in the business.
Laws and rules include the following:
• Legal rules: laws and related regulations such as a code of corporate
finance principles . . .)
• Special regulations: the principle of financial policy, funding rules . . .
• Internal rules and policies: internal policies, financial plan, strate-
gic plan, contract . . .
The regulations for financing a company ensure that the company
avoids insolvency. The internal rules for financing ensure that financial
funds are provided and used to that extent and for such purposes as
was planned.
The Scope and Objectives of an Internal Audit
Before starting the internal audit assignment, the internal auditor
should determine the scope of the audit. The scope of internal auditing
can be defined as (Lah 2003):
97
• from companies in the group,
• subventions . . .
Regulations and Rules on Financing
Any management is responsible for the legality of operations and the
prevention and detection of business that is non-compliant with the
legal norms. In so doing, the management can help with the following
policies and procedures (Koletnik and Kolar 2008, 110–1):
• monitor the regulatory requirements and provide methods that
enable compliance with the legal regulations;
• caring for the proper arrangement and operation of internal con-
trol;
• develops, publishes and respects a code of business behaviour for
all employees in the company;
• ensure staff development and an understanding of and respect for
the code of behaviour;
• monitor compliance with the code of business behaviour and dis-
ciplinary action against employees who do not abide;
• employ appropriate experts to assist in setting up and monitoring
the prescribed solution;
• caring for an updated list of important rules and interpretations
that must be respected in the business.
Laws and rules include the following:
• Legal rules: laws and related regulations such as a code of corporate
finance principles . . .)
• Special regulations: the principle of financial policy, funding rules . . .
• Internal rules and policies: internal policies, financial plan, strate-
gic plan, contract . . .
The regulations for financing a company ensure that the company
avoids insolvency. The internal rules for financing ensure that financial
funds are provided and used to that extent and for such purposes as
was planned.
The Scope and Objectives of an Internal Audit
Before starting the internal audit assignment, the internal auditor
should determine the scope of the audit. The scope of internal auditing
can be defined as (Lah 2003):
97
