CORPORATE GOVERNANCE AND THE ROLE AND INTERNAL AUDIT WITHIN HIGHER EDUCATION IN UNITED ARAB EMIRATES (UAE)
Why I am interested in this area
I am working as Senior Internal Auditor in the Education Industry from last 4 years and for this reason, I consider it as a great opportunity to explore and research, that, any importance is available and provided in this aspect or not and what are the preventive and mitigating measures taken by the Institutions to overcome towards any shortfalls or problems.
The term â€œCorporate Governanceâ€ is relatively new in this area and specially in the field of Education and it will not only be a great learning curve for me but will also ...view middle of the document...
Aim and Objectives
This study wants firstly to elaborate in a way that how internal auditors perceive their current role in introducing and managing corporate governance within the Universities of United Arab Emirates, where internal auditing is a relatively young profession. Secondly, I want to investigate whether, under the influence of corporate governance regulations, a greater financial and operational emphasis in internal auditorsâ€™ work can be noticed. Internal auditors can play a pioneering role in the creation of a higher level of risk and control awareness and a more formalized, standardized, transparent and documented risk management system.
This study is meant to shed some light on different aspects, characteristics, components and issues of corporate governance, always bearing in mind the possible role of the internal auditor. Moreover, this paper has no intention of telling the internal auditor what to do but rather to give an indication of different elements which may enable the internal auditor to contribute to what is generally referred to as â€˜goodâ€™ corporate governance. However, in order to fully grasp the possibilities for the internal auditor with regard to corporate governance, I found it useful to shed some light on the phenomenon of â€˜corporate governanceâ€™ itself: its meaning, its history, its different features, its various participants, its components and a number of other aspects pertaining to the subject of corporate governance. The chapter dealing in particular with the role of the internal auditor will list a number of considerations regarding the possible impact of the internal auditor on corporate governance in different ways.
The above can be summarized in to following objectives:
To evaluate, how Internal Auditors understand their current role
To analyse, for the good governance, how Internal Audit is helping their organizations
To examine, either the risk awareness and preventive controls are introduced
To explore, risk Management system is properly defined and understood
To evaluate the independence of Internal Audit
To identify any regulating bodies or documents are available which can restrict educational institutions towards good corporate governance.
To evaluate the legal and regulatory framework allows sufficient flexibility for adjustments in the capital structure for Profit institutions, when this is necessary for achieving company objectives.
To examine the maturity analysis of institutes towards corporate governance.
To examine that, institutes are equipped with policies and procedures or they working without them.
Overview of review of the relevant literature
There are relevant and related articles and publications. The major highlights related to my topic are listed below.
For the fraud available in the financial statements and regular business Vinten, Gerald (ed.) mentioned in Financial Regulation about the accounting scandals and also the measures taken by...