Internal Audit, Internal Control Systems in Finance Industry in the Changing Business Environment, Evidence From Turkey as an Emerging Economy: Banking Applications, Internal Systems

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Author(s): Fatih Kayhan (Kırklareli University, Turkey)
Copyright: 2023
Pages: 12
Source title: Managing Inflation and Supply Chain Disruptions in the Global Economy
Source Author(s)/Editor(s): Ulas Akkucuk (Bogazici University, Turkey)
DOI: 10.4018/978-1-6684-5876-1.ch018

Keywords: Business & Management / Business Science Reference / Economics and Economic Theory / Supply Chain Management

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Abstract

The purpose of this chapter is to review internal audit and internal control functions in the banking industry by taking into account the international COSO framework. The financial industry is regarded as one of the key elements of a stable economy. It is a well-known fact that financial institutions in general—banks in particular (public or private, foreign or local)—need to have a sound internal system to implement the high principle of ‘maker-checker-supervisor-auditor'. The study examines the application of internal systems in the Turkish banking industry primarily and covers not only the theory, application, and legislative sides, but also organizational structure and development of audit and control activity in the banking sector.

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Internal Audit, Internal Control Systems in Finance Industry in the Changing Business Environment, Evidence From Turkey as an Emerging Economy: Banking Applications, Internal Systems

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