Abstract An effective internal audit creates value to the organization in various ways. The main aim of this paper is to evidence in reality the voluntary use of internal audit by Albanian non-banking private companies and to identify factors that lead these growing companies to have an internal audit department. In the case, where the major part of companies are small and medium, the need for internal audit function is being necessary in providing a stable and safe growth and a good advice for managers. It is chosen this topic as the result of importance that is getting internal audit in dynamic and complex environment where business operates. Business manager needs independent opinion of internal auditors relating internal control and business’s risks. The results indicate that only a few companies use internal audit even though it is becoming an important structure for companies but cost to implement remains still a barrier.
Keywords internal audit, private non-banking companies, risk management
JEL Classification M420
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