International Journal of Academic Research in Business and Social Sciences

search-icon

Internal Audit and its Role in Risk Management Evidence: The Libyan Universities

Open access
This paper aims to identify the role of internal audit in contributing to the reduction of risks to the operations of higher education institutions in the Libyan state. The descriptive analytical method was adopted and the questionnaire was used as a tool for collecting and analyzing data related to the study using SPSS. This paper concluded that the internal audit offices and departments of the Libyan universities carry out their activities related to risk management evaluation and add value to the work of the department. In addition, internal audit offices and departments develop, record and communicate reports on the results of their work. Several recommendations have been made, including the need to push internal audit offices and departments towards the adoption of risk-based work plans, technical plans and internal audit programs. Also, more attention should be given to the development of standards, means and programs to identify measure and assess risks.
Agumas, A. M. (2015). Internal audit function and its challenges in public sector governance: Empirical evidence from Amhara National Regional State, Ethiopia. AshEse Journal of Economics. Vol 1(1). pp 001-012. March. http://www.ashese.co.uk/economics/blog.
Attch, A. A. (2011). A Proposed Framework to Activate the Role of Internal Auditing in Risk Management in the Egyptian Business Environment. published Master Thesis. Tanta University. P. 49.
Anghelache, C., Popescu, A. M., Anghel, M. G. (2018). Portfolio of Loans, Guarantees and Provisions, International Journal of Academic Research in Accounting, Finance and Management Sciences 8 (2): 126-131.
Boutskou, E. (2014). Teaching mathematics in Inclusion Units of primary schools in Greece: Educational perspectives. Multilingual Academic Journal of Education and Social Sciences, 2(1), 96–109.
Cioban, A. N., Hlaciuc, E., & Zaiceanu, A. M. (2015). The impact and results of the internal audit activity exercised in the public sector in Romania. Procedia Economics and Finance. 32. 394-399. www.sciencedirect.com.
Cohen A. G. (2005). Control interne et audit public. Adetef Printing House. Paris. pp. 127-132.
ElHaddad, A. A., ElHaddad, N. R., & Alfadhli, M. I. (2020). Internal Audit and its Role in Risk Management Evidence: the Libyan Universities. International Journal of Academic Research in Business and Social Sciences, 10(1), 209–225.
Hafizah, Z. (2017) Internal Audit and Risk Management Practices among Public Universities in Malaysia. https://www.researchgate.net.
Institute of Internal Auditors. The Role of Internal Auditing in Enterprise-Wide Risk Management, September 2004 http://www.theiia.org.
International Organization for Economic Cooperation and Development, (OCED). (2019). Internal Oversight and Risk Management for Public Integrity in the MENA Region.
Issam, N. Q. (2011). The Role of Internal Audit in Risk Management. published Master Thesis. Faculty of Economics. Damascus University. Syria.
László, D., Melinda, N., Katalin, J., Erzsébet, N., & Csaba, H. (2015). Risk Analysis and Risk Management in the Public Sector and in Public Auditing. jakovac.katalin@asz.hu .
Maria da, C. & Costa, M. (2014). Internal Audit in the Public Sector as a Tool for Risk Prevention of Corruption in Public Administration in Portugal" Business and Management Research, Vol. 3. No. 3..
Philna, C., & Dave, L. (2011). Internal audit and risk management in South Africa: adherence to guidance. http://www.ufs.ac.za/ActaAcademica.
Report on corruption in Libya. (2018). GAN - Anti Corruption journal.
Safina, A. R. (2018). Internal control and audit of public sector organizations: Risk assessment. Revista San Gregorio. (25). 151-157.
Sarens, G., & De Beelde, I. (2006). Internal auditors' perception about their role in risk management. Managerial Auditing Journal. Vol. 21. No 1, pp 63-80. https://doi.org/
Turlea, E., & Stefanescu, A. (2009). Internal audit and risk management in public sector entities, between tradition and actuality. Annales Universitatis Apulensis: Series Oeconomica. 11(1). 210.
Sekaran, U. (2003). Research Methods for Business, A Skill - Building Approach, Fourth Edition, Southern Illinois University at Carbondale. 2003. p311.
Vijayakumar, A. N. (2012). Effectiveness of Internal Audit in Risk Management at Public Sector Enterprises. journal Control Systems, BVIMR Management Edge. Vol 5. Issue 1.
World Development Report. (2014). Risks and Opportunities: Managing Risks for Development. Issued by the World Bank in 2014. https://www.albankaldawli.org/en.
Kassim, N. A., Baharuddin, K., & Khalib, L. H. (2018). Organizational Culture and Leadership as Factors of Organizational Learning Capabilities. International Journal of Academic Research in Progressive Education and Development, 7(3), 268–277.
In-Text Citation: (ElHaddad et al., 2020)
To Cite this Article: ElHaddad, A. A., ElHaddad, N. R., & Alfadhli, M. I. (2020). Internal Audit and its Role in Risk Management Evidence: the Libyan Universities. International Journal of Academic Research in Business and Social Sciences, 10(1), 361–377.