Review of trends in Ethiopia, Morocco, Argentina, Taiwan, Finland, Israel, France, and South Africa



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INTERNAL AUDITING:

AN INTERNATIONAL PERSPECTIVE

(Including a review of trends in Ethiopia, Morocco, Argentina, Taiwan, Finland, Israel, France, and South Africa)
Elizabeth Folsom

March 18, 1999


WHAT IS INTERNAL AUDITING?

Internal Auditing is one of the world’s fastest growing but most misunderstood professions. There are many definitions of the profession. For the Institute of Internal Auditors (IIA) "Internal Auditing is an independent appraisal function established within an organization to examine and evaluate its activities as a service to the organization. The objective of Internal Auditing is to assist members of the organization in the effective discharge of their responsibilities. To this end, Internal Auditing furnishes them with analyses, appraisals, recommendations, counsel, and information concerning the activities reviewed. The audit objective includes promoting effective control at reasonable cost."1 In order to fulfil these obligations, internal auditors review the reliability and integrity of financial and operating information; the systems established to ensure compliance with these policies, plans, procedures, laws and regulations; the means of safeguarding assets; the economy and efficiency with which resources are employed; and ascertain whether results of operations or programs are carried out as planned.


Internal Auditing is a rapidly developing function, which is becoming increasingly professionalized in many countries, both in the public and private sectors. Parallel to this development has been the recognition, at various levels of government, of the need to establish this function. In terms of institutionalization, the professional is still young and its rate of development has not been uniform. Internal audit began in the United States in the early 40’s. The initial period was characterized by rapid and multi-faceted growth in both the public and private sectors, accompanied by failures, difficulties, and problems in many areas of management, particularly supervision and control. Today the International Institute of Internal Auditors (IIA) governs the profession and provides a framework, standards, and guidelines for its activities. The IIA has 58,000 members in over 120 countries around the world. The largest representation in the IIA is in the U.S. (29,500), UK (3,700), Canada (2,500), Australia (2,000), and India (1,900).2


PURPOSE OF PAPER

In a general sense, auditing is done for the same reasons in all countries. External audits are done to ascertain the validity and reliability of the financial statements prepared by companies based on specific auditing standards. In the same broad vein, internal audits are done to see whether management’s operating and financial controls are being followed and whether or not they are effective. Yet despite these general similarities, actual auditing practices vary considerably from country to country. In some countries, an audit is seldom performed, or it is performed in a manner that is unacceptable to the auditors of other countries. Such difference in auditing practices pose problems for international investors and creditors, and or course, for multinational firms. This paper will examine some of the major similarities and differences in internal auditing throughout the world, the problems encountered, and some of the steps being taken to mitigate those problems. In addition, we will examine the effectiveness of the internal audit profession in various countries.


In order to identify the role and characteristics of internal audit in the management framework and assess its effectiveness, experts have suggested a number of criteria such as: source of authority, degree of independence, line of command, and practical application3. Source of authority refers to the level from which the internal audit mandate arises as well as the level of respect the internal audit function has in the organization. Degree of independence is self-explanatory – to what degree is internal auditing allowed to examine any activity, system, process, or transaction and. Line of command refers to the level in the organization that internal auditing reports to (the higher the better) and the level of authority that internal auditing has in getting recommended changes implemented. Practical application encompasses the relevance and modern tools used by internal auditing. To round out the analysis, details are also given on each countries type of government, population, literacy rate, gross domestic product (GDP), Corruption Perception Index (CPI) by Transparency International4, and Economic Freedom Ranking (EFR) by The Heritage Foundation.5


THE INTERNATIONAL SCENE

A recent study on the profession shows some interesting international trends. Conducted by the French Institute of Internal Auditors and Consultants, IFACI (Institute Francais des Auditeirs Consultants Internes), in conjunction with Arthur Andersen, some 600 companies covering all fields, were consulted in ten countries; the United States, United Kingdom, Canada, France, Japan, Germany, Spain, Argentina, Belgium and Morocco.


The findings revealed that the internal audit function was performed in 98% of the companies surveyed and the companies surveyed together employed 22,900 auditors.6 The reasons which bring about its creation vary from sector to sector but the strong influence of regulations is a dominant factor. In addition, although areas of focus for internal auditing are still close to the initial objectives, they are tending to expand to include diverse functions and the company’s operational problems. The function is based on established methodology and computer tools, but the profile of internal auditors depends on the company’s recruiting and career development policies. Although well represented by women (26%), the function remains dominated by men. All ages are evenly represented but the average auditor is about 40 years old. Fifty-seven percent (57%) have received a general or accounting university education (74% higher education), while only 8% are self-taught.7


ETHIOPIA




Government Type: Federal Republic

Population: 58,390,351
Literacy: 35.5%

GDP: $29B

CPI 2.90 (very poor)

EFR: 2.90 (mostly free)

Scope of Authority: Low

Degree of Independence: Low

Lines of Command: Low

Practical Application: Low


BACKGROUND


Internal Auditing's importance in Ethiopia was formally recognized in the early 1930s by the country's first Constitution. This document referred to the proper collection of state revenue and the necessity for procedures to control expenditures. In 1944, another milestone occurred when a proclamation established the Commission for Audit, charged with auditing the Ministry of Finance accounts. The development of state budget practices, an emphasis on fraud deterrence, and growth in trade and industry subsequently added impetus to the growth of the profession. More recently, the "Government Internal Audit Manual," published by the Council of Ministers in 1985, motivated many state authorities to strengthen internal auditing. The Manual suggests that "Although it is the responsibility of the management of each enterprise to set up and run an effective audit department, the situation at present is unsatisfactory and those units that do exist are virtually defunct.” 8

CURRENT PRACTICE
The reality is that internal auditing today still focuses on traditional activities, such as financial and compliance auditing. Less attention is given to operational audits or the application of modern techniques like flowcharting, statistical sampling, and computer auditing. They spend most of their time ensuring that accounting records are properly maintained and reliable; that company assets are adequately safeguarded and properly maintained; and that the organization is in compliance with established policies and procedures. The majority of internal audit departments do not have a written audit charter. Therefore, the objectives, authority, scope, and responsibilities of internal auditing are not spelled out in most organizations, and no measures exist to ensure that the internal audit department is recognized as acting with the authority and support of senior management. Internal auditing also is handicapped by a critical shortage of appropriately trained and skilled work force, inadequate organizational status, and a lack of professional independence. The essential qualification is still accountancy-based, which constrains the role and scope of internal auditors. A 1991 study found that approximately 71% of surveyed internal audit staff held diplomas and degrees in accounting; none had the requisite professional qualification in internal auditing9.

THE FUTURE

If we focus only on the increase in the number of internal audit units and in the number of auditors employed, we can certainly say that internal auditing in Ethiopia has come a long way. However, in terms of skilled and qualified labor; properly delineated authority and responsibilities; and a reporting status that permits the maintenance of integrity, objectivity, and professional independence, internal auditing has far to go. The inadequacies in professional education and the lack of a coordinated comprehensive training program are critical obstacles to strengthening internal auditing in Ethiopia. The government, public enterprises, and private organizations must attend to these areas to realize the full value of effective internal auditing.



MOROCCO

Gov. Type: Constitutional Monarchy

Population: 29,114,4997
Literacy: 43.7%
GDP: $107B
CPI 3.70 (poor)
EFR 2.95 (mostly free)

Scope of Authority: High

Degree of Independence: Moderate

Lines of Command: Moderate Practical Application: Moderate

BACKGROUND


A relatively new profession in Morocco, internal auditing was introduced in the early 1980s by multinational companies. As these organizations began to set up shop in Morocco, they brought with them traditional business practices that included internal auditing. At first, few Moroccan organizations followed suit. Local companies that did employ internal auditors charged them simply with financial and accounting responsibilities. Internal Auditing’s status changed in 1993 when a letter from King Hassan II of Morocco asked that all of Morocco's ministries and public enterprises be audited. The announcement specifically requests external, managerial, and internal audits. According to the letter, internal audits are vital for verifying that the organization's central policies and procedures conform to the applicable laws and politics of the country.10 In 1996 a law was passed that requires all companies classified as "limited" to establish an internal audit department

CURRENT PRACTICE


Today, Morocco's internal auditing practitioners must be university graduates with four-year degrees in some related field, such as accounting, management, or audit. Internal auditors provide assurance in numerous areas, primarily through operational and data processing audits. Management generally regards internal audit departments with respect and provides them with appropriate support. The internal audit function is often positioned at the highest levels of the organization, which ensures smooth work processes and auditor independence. As a direct result of the King's letter, internal auditing has become mandatory in all government offices. Public sector companies that have dealings with the various governmental ministries must also conduct internal audits.


THE FUTURE


In spite of their strong position, Morocco's internal auditors still face three major obstacles: maintaining their independence, competing in the business community, and educating others about internal audit responsibilities. The country' s internal auditors are sometimes perceived as an extension of the external audit organizations rather than as a separate, internal function. Many professionals believe that internal auditors should maintain their independence and distinction from the external auditors, and that the survival of internal auditing in Morocco may be at stake if internal auditors are subsumed by these external auditing organizations.11 Moreover, the increase in competition from European firms is a real concern, Moroccan businesses may be eliminated, and many Moroccan internal auditors may find themselves out of work. Finally, many Moroccan professionals are confused about the duties and differences between the internal audit, total quality, and management control functions. Further efforts to educate the public about internal auditing's distinct qualities are imperative.

ARGENTINA

Government Type: Republic

Population: 36,265,463
Literacy: 92.6%

GDP: $348 B

CPI 3.00 (very poor)

EFR 2.50 (mostly free)

Scope of Authority: Moderate

Degree of Independence: High

Lines of Command: Moderate

Practical Application: Moderate

BACKGROUND


The concept of internal auditing was first introduced to Argentina in the early 1950s, when multinational companies with internal audit functions established bases in the country. Argentina's first internal auditors generally were employed by these companies, mainly from the U.K. and the U.S. In the early stages, auditors were almost like "policemen" with responsibility for controls over inventories and cash. Later, a second generation of auditors, mostly external auditors who became internal auditors, was primarily involved in the accounting area.

CURRENT PRACTICE


Today's Argentine auditors, typically university graduates with CPA designations, are much more involved in operational audits and in the overall system of internal control. About 4,300 internal auditors currently practice in Argentina, including 1,000 in the private sector; 1,600 in the public sector; and 1,700 others who perform various control activities.12 Within the private sector, a high percentage of internal auditors are employed in banking, manufacturing, and utilities.

Legislation requires internal auditors in the public sector. The national government first established the function of internal audit in Argentina' s public sector in 1993. Consequently, internal audit units for each national government organization and a centralized internal audit unit were created. Law in the banking services sector also requires internal auditing. A new regulation enacted in May 1997 requires each bank to have an Audit Committee with a specific structure, a person responsible for the internal audit function, and an internal auditor in each bank.



THE FUTURE


Looking ahead, the challenges for Argentina's internal auditors revolve around maintaining their position in companies that emphasize meeting competitive challenges over internal controls, helping management understand that internal control is inherent to an organization’s quality, and change their techniques to become more “business oriented” with an increased understanding of how businesses are managed.13 Since the privatization of most state-owned companies and significant external investments in the last five to ten years, internal auditors are faced with following - and sometimes leading - the organization' s change process.


Taiwan




Government Type: Democracy

Population: 21,908,135
Literacy: 92.6%

GDP: $308 B

CPI 5.30 (avgcorruption)

EFR 1.95 (free)

Scope of Authority: High

Degree of Independence: High

Lines of Command High

Practical Application: High

BACKGROUND


Internal auditing in Taiwan began in 1947 as a government function. At that time, both accounting and auditing laws required all government areas to develop and enhance their internal audit functions. In the early 1960s, internal auditing became prevalent across the nation. All government-owned enterprises, which included banks and utilities, established internal audit departments to improve operational efficiencies. At this stage, internal auditors still focused most of their efforts on the assessment of financial controls. Most private industries did not recognize the importance of internal auditing and internal controls until the late 1980s. In 1986, the Taiwan SEC issued the nation's first internal control regulation. The law required companies registered on Taiwan' s stock market to establish an internal control system and an internal audit function.


CURRENT PRACTICE


These regulations accelerated the development of internal auditing in Taiwan. Today, there are approximately 1,800 government auditors and 4,500 private-sector auditors practicing in the country.14 However, those numbers promise to grow as companies registered on the stock market continue to add internal auditing personnel to their ranks. The internal auditing regulation of 1992 also prohibited registered companies from hiring internal auditors who have not completed at least an undergraduate degree or who are not certified in the practice of internal auditing.15


THE FUTURE


As the country strives to promote all of its international developments, auditors will face more business challenges and will have to contend with the following developments within Taiwan's ever-changing infrastructure. To comply with new regulations, and to boost marketing capabilities in the increasingly competitive global environment, organizations are becoming ISO 9000 and ISO 14000 registered. Taiwanese law requires auditors in most organizations to perform environmental and quality compliance audits, and internal auditors must be familiar with these systems. In addition, to increase international competitiveness, Taiwan's ultimate goal is to transform itself into a "science and technology island.” Therefore, internal auditors who want to increase their value will learn how to continually evaluate the effective use of science and technology resources.


FINLAND

Government Type: Republic

Population: 5,149,242
Literacy: 100%

GDP: $102 B

CPI 9.6 (negligible corruption)

EFR 2.25 (mostly free)

Source of Authority: Moderate

Degree of Independence: Moderate

Lines of Command: High

Practical Application: High




BACKGROUND


The origin of internal auditing in Finland dates back to around 1951. Finland' s internal auditing efforts focused on controls over administration, funds, and bookkeeping. Challenges early internal auditors faced included profitability, controls of sales and administration, internal controls, insurance and loan process, organizational politics, centralized or decentralized accounting, and profitability of information systems16. By 1970, the internal auditing profession had added analysis and audit of various functions, systems, and methods to its role. Internal auditors ensured that the mission statement and business ideas were followed. They implemented operational controls; audited information; made suggestions; educated personnel; and aided the company' s external auditors.

CURRENT PRACTICE


Today, practitioners in Finland perform operational, compliance, or financial-based audits, with an emphasis on assessing the organization' s control system and control environment as a whole. In this area of control and risk-assessment, internal auditors typically act more as consultants or partners with management. For example, while management is responsible for organizing appropriate and sufficient control over a company's use of funds and its bookkeeping, they often rely on internal auditing's expertise and experience to accomplish their goals.
Conservative estimates indicate that 700 to 800 internal auditors practice in Finland, most with master's degrees and a major in accounting or finance.17 When those who may conduct traditional internal audit duties under different job titles - such as directors, controllers, engineers, lawyers, accountants, and auditors in particular industries like government, forestry, and insurance are included, the number grows even larger. Most of Finland's internal auditors work in banking and insurance (22.5 percent); industry, including manufacturing (20.8 percent); state and community government (19.6 percent), and commerce (8 percent)18. While no law mandates internal auditing in any business in Finland, banks are indirectly required to have an internal audit function.


THE FUTURE


The primary challenges faced by Finland's internal audit population include promoting the internal auditing profession, establishing effective and efficient internal control systems and good corporate governance, and certifying true and valuable professionals. Finland's internal auditors are meeting these challenges by analyzing the risks and control systems at their organizations' various levels; discussing, consulting, and suggesting improvements; and emphasizing the value of effective and efficient controls, control systems, and corporate governance.

ISRAEL




Government Type: Republic

Population: 5,643,966
Literacy: 959%

GDP: $96.7 B

CPI 7.1 (little corruption)

EFR 2.80 (less free)

Source of Authority: High

Degree of Independence: High

Lines of Command: High

Practical Application: Moderate

BACKGROUND


In 1992 the Israeli parliament passed the Internal Audit Law (IAL), making Israel the first country in the world with a comprehensive legal basis for internal auditing.19 During the previous two decades, the internal auditing in Israel was beset with difficulties, problems, and deficiencies. Before the enactment of the IAL, the legal basis for internal auditing was limited to a few paragraphs in various laws. This sporadic, unbalanced, and difficult-to-implement mix of legal clauses failed to provide a solid base for effective internal auditing in Israel.

CURRENT PRACTICE


According to the IAL, every public body or organization is obligated to appoint an internal auditor and conduct internal audits. A public body or organization, as defined in the IAL, includes ministries, government enterprises, and organizations supported by the government. In addition, the law specifies qualifications for internal auditors. He or she must be a resident of Israel, cannot have been convicted of an offense involving moral turpitude, and must have earned an academic degree. Candidates also must have two years' experience in auditing, or they must have completed further internal auditing course work that has been approved by a special review committee. Candidates who do not meet all the requirements cannot work as internal auditors unless they receive special authorization from a review committee.

Most internal auditors fulfill their duties following the law and accepted professional standards. Generally, they are held directly responsible by their officers in charge, which in government ministries and other public organizations is the Director General. In public corporations and in the private sector, officers in charge are the chief executive and sometimes the chairperson of the board of directors. The internal auditor's "exclusiveness of activity" has generally been maintained, so that situations that could present conflicts of interest can be avoided. No major problems have been observed concerning the submission of documents and information required for the discharge of the internal audit functions.



THE FUTURE


Although internal auditors in Israel usually fulfill their duties in accordance with the law and with accepted professional standards, many observers believe they use outdated approaches and tend to place too much emphasis on the traditional and financial aspects of the profession.20 Adjustments in practice and mindset will be needed to affect changes in this area.


FRANCE


Government Type: Republic

Population: 58,804,944

Literacy: 99%

GDP: $1.32 T

CPI 6.7 (little corruption)

EFR 2.50 (mostly free)




Source of Authority: Moderate

Degree of Independence: Moderate

Lines of Command: Moderate

Practical Application: High

BACKGROUND


Internal auditing's birth in France's largest, privately-owned companies in the late 1940s can be traced to two primary factors. During the reconstruction years following the war, French management noted a worrisome lack of controls in organizations. Academic and business groups began looking for ways to implement, improve, and monitor internal control. During the next 40 years, internal auditing grew quickly, partly because of the model set by U.S. and U.K. subsidiaries headquartered in France. The first internal auditors in France conducted only accounting and financial audits. Their duties were vague; the boundaries between what constituted an internal audit, an external audit, and management control lacked distinction. In 1965, a small group of audit managers seeking a forum to discuss their experiences founded the Institut de l'Audit Interne (IFACI). Consequently, the internal auditing profession became more clearly defined, and the role of internal auditors began to evolve.


CURRENT PRACTICE


Today, IFACI membership stands at 1,775, and the internal audit function addresses all business areas, including purchasing, manufacturing, human resources, EDP, and marketing.21 "Internal auditors adopted operational auditing to improve their organizational focus," says Jacques Renard, Professional Practices Director for IFACI.22 Today, the majority of the country's estimated 8,000 internal auditors work in the private sector, primarily in the financial, industrial, and commercial sectors.


THE FUTURE


The next area of progress for internal audit evolution involves regulations. Although internal auditing in France is conducted without set mandates, regulations governing banking and the social security administration require an internal control system and a method for measuring these controls. In addition, the banking regulation outlines a structure for the internal control system and recommends the implementation of an audit committee. Internal control mandates in other areas are expected as a result of the positive outcome of these programs. While some internal auditors say that more regulations will impede progress and cause confusion, the European Community supports France's efforts to regulate internal control and internal auditing-an endorsement that will likely stimulate action.23


South Africa



Government Type: Republic

Population: 42,834,520
Literacy: 81.8%

GDP: $270 B

CPI 5.2 (avg. corruption)

EFR 2.90 (less free)

Source of Authority: Moderate

Degree of Independence: Moderate

Lines of Command: High

Practical Application: High







CURRENT PRACTICE


An estimated 10,000 internal auditors are employed in South Africa's private sector. Many are employed in financial services, mining, and general industry. In addition, a substantial number work in government. Increasingly, South African management is looking to internal auditors to perform non-traditional functions, such as risk identification, assessment, and management. Auditors are also more concerned with the achievement of business objectives, and some practitioners are training management in matters related to control.
There is a current shortage of skilled internal auditors in South Africa, which is linked to economic growth and to the decentralization of the audit functions that occurred under the previous government. To combat the worker shortage and to boost skills, various initiatives are underway. Partly because of strong efforts by IIA-South Africa, the Bachelor of Commerce degree program with specialization in internal auditing is now offered at the University of South Africa.


THE FUTURE


Many internal auditors face serious tests in their environments, brought about by a high crime rate, significant unemployment, troublesome affirmative action programs, stilted growth, the cost of reconstruction and development programs, and the declining value of the country's currency and gold. The escalating level of criminal activity is an overarching concern, and internal auditors devote substantial amounts of their time to preventive and detective measures designed to combat fraud and theft. Overwhelmed law enforcement and prosecution agencies, which are often understaffed, are unable to handle all the reported cases of fraud and theft. As a result, auditors have become more involved in assisting police services in investigation processes and helping to ensure that complete case dockets are compiled for effective prosecution. It is not uncommon to see internal auditors in court presenting evidence in fraud and criminal cases.

CONCLUSION

Derivative trader Nick Leeson admitted that trading on the Asian markets led to the collapse of Britain’s oldest merchant bank, Barrings. Asked if he was guilty, Leeson answered “Yes,” but added, “There are a lack of controls everywhere and degrees of concealment. I don’t think mine was the first time that it happened and I presume that it will not be the last.”24

Literature is devoid of studies that show a clear linkage between level of corruption, economic freedom, level of literacy, amount of GDP, or size of population and the effectiveness of the nation’s internal auditing profession. There are contradictions everywhere one looks. For example, the Philippines (not examined in this paper) is considered to have a high corruption perception index, but has a large and very effective auditing profession. Alternatively, Sweden, seen as very “uncorrupt,” has a staid, old-fashioned auditing profession.


However, it is important for business managers to be aware of the prevalence of situations like Leeson describes, and the often cavalier attitude toward lack of controls that staff and management alike portray, as well as the corruption, mismanagement, and lack of accountability that can follow. As companies and managers move operations into countries around the world, they must remember that Internal Auditors are uniquely positioned to combat these drags on profitability and progress. Understanding and measuring factors such as source of authority, degree of independence, lines of command, and practical application will help the manager determine the best way to utilize an internal audit unit and where care should be taken to enhance its effectiveness. Better control, effectiveness, and efficiency of the business as a whole will follow.

1 The Institute of Internal Auditors. Leader’s Guide. March 1997.

2 The Institute of Internal Auditors. Leader’s Guide. March 1997.

3 Friedberg, Asher. 1998. “Ethical aspects of internal auditing”. Journal of Business Ethics. Jun 1998 p.895-904

4 A scale of 10 to 0, with 10 representing the country that is perceived to be least corrupt

5 A scale of 1 to 5, with 1 representing the country that is considered the most free (in terms of trade, taxation, government intervention, monetary policy, foreign investment, banking, wages/prices, property rights, and regulations)

6 Greenland, Collin. “Internal Auditing in Jamaica.” http://www.iiajamaica.org/

7 Greenland, Collin. “Internal Auditing in Jamaica.” http://www.iiajamaica.org/

8 W/Giorgis, Wolderuphael. “Ethiopia – looking to the future.” Vol. 55, Internal Auditor, 02-01-1998, pp.16

9 W/Giorgis, Wolderuphael. “Ethiopia – looking to the future.” Vol. 55, Internal Auditor, 02-01-1998, pp.16

10 Barnia, Mohamed. “Morocco – on the right track.” Vol. 55, Internal Auditor, 06-01-1988, pp.22.

11 Barnia, Mohamed. “Morocco – on the right track.” Vol. 55, Internal Auditor, 06-01-1988, pp.22.

12 Di Stefano, Alberto. “Argentina (internal auditing in Argentina)”. Vol. 54, Internal Auditor, 08-01-1997, pp.14.

13 Di Stefano, Alberto. “Argentina (internal auditing in Argentina)”. Vol. 54, Internal Auditor, 08-01-1997, pp.14.

14 Cheng, Peter H.G. “Taiwan – a center of growth.” Vol. 54, Internal Auditor, 12-01-1997, p.18.

15 Cheng, Peter H.G. “Taiwan – a center of growth.” Vol. 54, Internal Auditor, 12-01-1997, p.18.

16 Halla, Ilona, “Finland (Finnish internal auditing practices)”., Vol. 54, Internal Auditor, 10-01-1997, pp.12.

17 Halla, Ilona, “Finland (Finnish internal auditing practices)”., Vol. 54, Internal Auditor, 10-01-1997, pp.12.

18 Halla, Ilona, “Finland (Finnish internal auditing practices)”., Vol. 54, Internal Auditor, 10-01-1997, pp.12.


19 Friedberg, Asher; Mizrahi, Nissim, “Making history (passage of internal auditing law in Israel).”, Vol. 55, Internal Auditor, 04-01-1998, p70.

20 Friedberg, Asher; Mizrahi, Nissim, “Making history (passage of internal auditing law in Israel).”, Vol. 55, Internal Auditor, 04-01-1998, p70.

21 Marcilhacy, Alain; Piaton, Michel. “France – reaching new frontiers.” Vol. 55. Internal Auditor, 10-01-1998, p. 16.

22 Marcilhacy, Alain; Piaton, Michel. “France – reaching new frontiers.” Vol. 55. Internal Auditor, 10-01-1998, p. 16.

23 Marcilhacy, Alain; Piaton, Michel. “France – reaching new frontiers.” Vol. 55. Internal Auditor, 10-01-1998, p. 16.

24 Greenland, Collin. “Internal Auditing in Jamaica.” http://www.iiajamaica.org/




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