Please use this identifier to cite or link to this item: https://www.um.edu.mt/library/oar/handle/123456789/66033
Title: Recent trends in the internal auditor-management relationship : a Maltese perspective
Authors: Mifsud, Lara
Keywords: Auditing, Internal -- Malta
Auditors -- Malta
Audit committees -- Malta
Industrial management -- Malta
Corporate governance -- Malta
Issue Date: 2020
Citation: Mifsud, L. (2020). Recent trends in the internal auditor-management relationship: a Maltese perspective (Master's dissertation).
Abstract: Purpose: The aim of the study was to evaluate the relationship between the internal auditor and management as such a relationship is crucial to a well-functioning company. Through this research the roles and responsibilities of both parties were also analysed together with the changing roles of the internal auditors and whether these are positively impacting their rapport with management. Design: The objectives of this study were achieved by conducting 11 semistructured interviews with internal auditors and management respectively, working for companies in possession of an in-house internal audit function. Findings: Results from this study show that Maltese internal auditors and management have a strong and healthy relationship between each other, however there is still room for improvement. Although identifying and reducing errors, minimising and protecting the company from fraud, checking the correctness of accounting records, focusing on risk mitigation, and reporting on internal controls systems are still part of the internal auditors responsibilities, adding value to the company by providing consultancy services is becoming the most important job for the internal auditor. Results also illustrated that managers are responsible in the implementation of controls on the basis of recommendations set out by the internal auditors. Furthermore, the audit committee plays an important role in sustaining the relationship between the two parties. Conclusions: From this study it is concluded that although the relationship among Maltese internal auditors and management is strong this can still be improved. One may be aware that barriers exist in such a relationship but both parties must keep in mind that they must build a culture of partnership and team work where everyone in the company fulfils their role effectively and efficiently, while concurrently retaining independence and objectivity as a priority. Value: Hopefully, this study will encourage further research on this topic. In fact, one may adopt the recommendations set out in this study in order to continue to improve the internal auditor-management relationship.
Description: M.ACCTY.
URI: https://www.um.edu.mt/library/oar/handle/123456789/66033
Appears in Collections:Dissertations - FacEma - 2020
Dissertations - FacEMAAcc - 2020

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