Corporate governance, risk management and corporate social responsibility: current roles and future trends for internal auditing activities

This article aims to analyze the activities performed by the internal auditing department (IAD) and the expected trends for the forthcoming future. The existing literature highlights that many IADs are currently playing a key role for improving the effectiveness of corporate governance, risk management and CSR projects. This article is based on the results of two international surveys and provides an answer to the following research questions: - to what extent and which activities the IAD are currently performing in the area of corporate governance, risk management and CSR?; - are there significant differences between: the 2006 and the 2010?; the "developed" and the "new industrialized" regions?; industries? The overall results show that in the 2010 the percentage of IA activities that refer to risk management is higher than for corporate governance and CSR. Respondents expect that the role of the IAD in risk management and corporate governance will continue to increase in the next five years. However the trends for the future are not uniform between regions and industries: these two activities are expected to increase more in "new industrialized" regions, in financial services industry and in raw material and agriculture industry.

Keywords: Internal auditing, corporate governance, risk management, corporate social responsibilities

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Marco Allegrini, Giuseppe D'Onza, Corporate governance, risk management e responsabilità sociale fra presente e futuro dell’attività di internal auditing in "MANAGEMENT CONTROL" 1/2011, pp 151-178, DOI: 10.3280/MACO2011-001007