Evaluation of internal control system in industrial enterprises: A case study

In today's business world, concepts such as transparency, accountability, and assurance have gained importance in business activities, as well as the development of audit and its supporting business processes. Within this context, internal control activities as the supporting process of audit, are also of great importance for the enterprises. On the other hand, the internal control system, which is also related to corporate risk management, is of particular importance in terms of achieving the objectives of the enterprises and protecting their assets. For this reason, in highly competitive business environment, organizations want to be successful and protect their assets have to develop an effective internal control system. Developing and establising an effective internal control systems is only possible with well-educated, and informed employyes who undersand the entire control process. Accounting and auditing organizations and professional organizations have been working for years to develop internal control models that can work best in different business environments. The COSO internal control model, which was developed in the 1980s, is at the forefront of these models. The COSO model, re-updated after the Sarbanes Oxley Act, which was published after financial scandals at the beginning of the year 2000, is one of the most widely used models of today's businesses. Key words: Internal control system, Integrated risk management, COSO.