Accordingly to the professional organisation, Institute of Internal Auditors, internal audit is define "an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes". The extract about "value" is central for this master thesis. Value will be evaluate supported by a survey with nine top-Danish non-financial companies. They have internal audit in common, and their mission is to add value to the organisation. Before I am able to discuss value, I will define Internal audit in Danish non-financial companies. I will define the word "value" and evaluated the opinion of value creation based on the survey. I will be able to compare the value creation in different industries and evaluate how to secure value creation in the future. Internal audit is defined as an independent department with reference to the prime stakeholder, Board of Directors. The mission for internal audit is to add value to the organisation. Value is defined as provide value by improving opportunities to achieve organizational goals. The survey concludes, internal audit do value their work more than the organisation. Accordingly to the organisations, internal audit do still have development opportunities. Further, the survey concludes, that internal audit only work with high-risk area and they provide value with delivering recommendations to the organisation. Based on the thesis, the survey with non-financial companies and the conclusion, I am able to discuss the relevance, academic association and future study about the thesis. The current information about the thesis based on a similar method is thin. There are information about value creation of internal audit, but it is limited if the opinion from the management must be included. Internal audit is not that develop compare to the industry in USA and United Kingdom. Companies like Lego, Grundfos, Vestas, Copenhagen Airport, Aller Medier and Bestseller do not have an internal audit. One of the reasons could be missing information about potential value creation from internal audit. If these companies should gain information about the benefit, value creation, with having internal audit, there needs to be survey with comments from the Board of Directors. I have manage to obtain interview with the management, but comments from the Board of Directors are the first prove.
|Uddannelser||Cand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling|