Journal of Operational Risk
ISSN:
1744-6740 (print)
1755-2710 (online)
Editor-in-chief: Marcelo Cruz
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The important role of information technology and internal auditing in risk management: evidence from Greece
George Drogalas, Michail Pazarskis, Grigorios Lazos and Konstantinos Golidopoulos
Need to know
- Assessment and documentation of how information systems contribute to internal audit for the adequate management of the risks related to business operation.
- We present research that analyses the correlation of internal audit and information systems signalling the risks arising in the modern business environment.
- When businesses and internal auditors use IT properly, the internal audit process becomes more effective, quicker and more affordable.
Abstract
An organization’s activities are greatly aided by information technology (IT), which also speeds up corporate operations. Today, internal auditing is frequently conducted using IT, and this trend will continue as more and more businesses switch to paperless systems. This paper assesses and documents how information systems contribute to internal audit, so as to adequately address any risks that may arise in the context of the modern business environment. A survey was conducted as part of the research, and a pertinent questionnaire that was sent out to Greek businesses served as a research tool. The survey data were also subjected to regression analysis, a statistical technique. The study’s findings show that when businesses and internal auditors use IT properly the internal audit process becomes more effective, quicker and more affordable, resulting in more effective management of the risks relating to business operations and, by extension, greater success of business entities in what is a competitive modern environment.
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