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Internal audit function role in operational risk management

Ana Fernández‐Laviada (Faculty of Business and Economics, University of Cantabria, Santander, Spain)

Journal of Financial Regulation and Compliance

ISSN: 1358-1988

Article publication date: 15 May 2007

5321

Abstract

Purpose

The objective of this paper is to provide a global perspective of the operational risk (OR) management framework from an internal audit viewpoint.

Design/methodology/approach

This paper describes the new role of the internal audit function in reviewing the OR framework.

Findings

An efficient OR management framework will improve and reinforce the internal controls of the organization. Internal audit should be alert to the whole process of implementation of the systems for managing OR in entities.

Originality/value

This area has not been analyzed in depth to date. The paper provides a summary guide to audit of OR management frameworks in financial institutions.

Keywords

Citation

Fernández‐Laviada, A. (2007), "Internal audit function role in operational risk management", Journal of Financial Regulation and Compliance, Vol. 15 No. 2, pp. 143-155. https://doi.org/10.1108/13581980710744039

Publisher

:

Emerald Group Publishing Limited

Copyright © 2007, Emerald Group Publishing Limited

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