INSTITUTIONAL MONITORING AS A MANAGEMENT INSTRUMENT

• Authors: Sulca R.
• Languages of publication: EN

Abstracts

EN

The goal of this article is to identify and describe the documentary and methodological differences between internal monitoring systems in state administration institutions and local governments in Latvia. Several tasks were undertaken to accomplish this goal: a study of changes in internal auditing system in Latvia, other EU countries and the rest of the world; analysis of documentary and methodological aspects; and assessment of the impact that internal supervision has on the legitimacy and efficiency of the decisions made by heads of state administration institutions and local governments. Several novel conclusions were drawn during the course of research. Latvia has sufficient potential to set high criteria for establishing an efficient and modern internal auditing system. The internal auditing system in state administration institutions in Latvia is sufficiently professional. It has a legal and methodological framework that conforms to the best practices used in the European Union. Internal auditing in local governments is even more essential because it serves as a means of protection against inefficient use of financial resources. There is need for legislation that requires local governments to have an internal audit because that could help to make them more efficient. Observance of professional standards of internal auditing in the public sector should be promoted; that would make it possible to develop and maintain procedures for quality assessment and improvement, as well as ensure appropriate, adequate, efficient and constant monitoring.

Keywords

EN

AUDITING STANDARDS; INTERNAL AUDITING (LATVIA); INTERNAL SUPERVISION

Discipline

• ECONOMICS: ECONOMICS

• Publisher: EPC Ltd (Economic Prognosis Centre), Riga, Latvia (till March 2009 - Institute of Economics, Latvian Academy of Sciences, Ltd)
• Journal: Humanities and Social Sciences: Latvia
• Year: 2007
• Issue: 1(50)
• Pages: 183-197
• Document type: ARTICLE

Contributors

author

Sulca R.

• R. Sulca, Latvian University of Agriculture, Svetes iela 18, Jelgava, LV 3001, Latvia

Identifiers

CEJSH db identifier

08LVAAAA03797609