The risk based internal auditing in the scope of corporate governance: The implemantation analysis of the risk based internal auditing in five-hundred big industrial enterprises of Turkey

The fluxes in the management concepts, globalization, technological developments, legal arrangements and the other factors create new facilities for the enterprises. However, these new facilities bring about important risks as well. The enterprises? being in a difficult situation due to the latest improvements has brought up the question of the efficiency of the auditing (system) and the risk-based internal auditing systems. The emerging approach affects the role of the auditor in the auditing process. These approaches change the auditing concepts of the enterprises radically, and they also aim to minimize the possible risks efficiently which may occur. It is believed that the classical auditing techniques are deficient in giving reliable information about the enterprises. In the auditing process, it is required to anticipate the risks which the enterprises may face in the future beside the retrospective financial data. In this context, the risks of the enterprises should be determined, surveyed and minimized by the management with the help of the risk management and the internal risk-based concepts. The risk-based internal auditing is a process which focuses on the risks of the enterprises as well as the management and the auditing of these risks. This system, mainly, is based on corporate governance and tries to determine whether the corporate governance is applied efficiently or not. That is, the risk-based internal auditing is the inseparable integral part of the risk management and the corporate governance. In the process of the implementation, the risk-based internal auditing has important functions such as the establishment of an eligible risk management department and the management of the risks, and further supplements to the implementation of the risk and corporate governance with various methods. Thus, internal auditing department must specialized risk and information systems management. In this study, the risk-based internal auditing system has been described, and also its methodology, basic facilities necessary in the implementation, paradigm of corporate governance and interaction with the risk-based internal auditing has been defined. Furthermore, to evaluate the efficiency of the studies, an implementation analysis of the risk-based internal auditing an empirical analysis has been carried out in the top five-hundred industrial enterprises of Turkey.