Research on Internal Audit Participate in Risk Management-Based on the Erm Framework of Coso

19992 Words Jun 14th, 2013 80 Pages
School of Management, University of Glamorgan

Research on Internal Audit Participate in Risk Management-Based on the ERM Framework of COSO

By: Weichen Zhu

Candidate no:

September 2012

Supervised by:

The dissertation is submitted as part of the requirement for the award of
Masters of Science:

Declaration
This Dissertation has been prepared on the basis of my own work and that where other published and unpublished source materials have been used, these have been acknowledged.

Word Count:
Student Name: __________________
Signature: ______________________
Date of Submission:______________

Acknowledgement

This is my first time to go aboard for studying. During different campus life in the UK, it is
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This paper mainly focuses on the internal audit participating in risk management under ERM framework.

Firstly, this paper is introducing background of the topic, study objectives, study method and content. In the meanwhile, it summarizes the current situation of developed countries about internal audit and risk management. Secondly, it is suggested that elaborating relevant theory on internal audit and risk management under ERM framework. After stating internal audit and risk management as a whole, this part introduces background and components of ERM framework, defines internal audit’s role in ERM framework, and finally indicates the effect internal audit exerts on risk management under ERM framework. Thirdly, it is studying on procedures and contents of internal audit and risk management under ERM framework. The specific procedures include eight aspects: assess enterprise’s internal environment, assess enterprise’s objective setting, distinguish enterprise’s risk event, confirm enterprise’s risk assessment, inspect enterprise’s risk reaction, track enterprise’s control activity, evaluate enterprise’s information and communication, and supervise enterprise’s risk management. Fourthly, through survey, it is comprehensively analyzing current situation and cause of internal audit and risk management under ERM framework. Fifthly, it is conducting a survey on China’s current

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