A Study on the Internal Audit of Banking Industry in Taiwan
Date Issued
2007
Date
2007
Author(s)
Hwang, Lih-Meei
DOI
zh-TW
Abstract
The purposes of this study are to examine the independence of the internal audit, the suitability of the relevant regulations and how to promote the value of internal audit in Taiwan’s banking industry by the questionnaire survey. The results of the study can be a reference for the authorities concerned and internal auditors of the bank Industry as well.
The questionnaires are distributed to 31 banks, including 4 government-owned banks, 12 private banks, 12 financial holding companies and 3 foreign banks. Questionnaires were requested to fill out by 3 internal auditors in each bank to increase the objectivity of the study.
The summary of the survey results are as follows:
1. The CEO’ attitude to support the internal audit may influence the independence of the internal audit.
2. The fines by the regulatory authority for the spontaneous exposure of the frauds in regular audit may cause the reluctance of revealing significant flaws and frauds by internal auditors, and then lose its independence.
3. Regulatory authority should strictly require accountants with sufficient bank auditing experience in order to improve their audit quality.
4. Internal auditors could participate in the due diligence work with accountants, lawyers and underwriters for the merger case to help managers identify the potential risk and hence facilitate the success of the merger case.
Subjects
內部稽核
內部稽核獨立性
內部稽核價值
風險導向內部稽核
internal auditing
independence of the internal auditing
the value of internal auditing
risk-based internal auditing
Type
other
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