Internal control and audit - a requirement for responsible reporting of Higher Education Institutions with Financial Autonomy

Abstract

The public sector in our country has lost its credibility in terms of public resource management. A special role in the efficient organization of the management of an entity belongs to the internal control. This article addresses issues that aim to highlight the need to organize internal control and audit of accounting information in Higher Education Institutions with Financial Autonomy for responsible reporting. In this context, the research will show the capacity of public internal audit to contribute to strengthening the management function, efficient and effective risk management and efficient, effective and economical use of public entity resources, to determine the development needs of internal audit from this public sector, to identify the causes underlying the dysfunctions and create the possibilities for elaboration and implementation of a development strategy and last but not least, to ensure more knowledge in the field of research of internal managerial control and public internal audit, at the level of education. The purpose of this approach is to establish the role and importance of public internal control structures within the management system of public entities in education and to improve the credibility of accounting reports. JEL: I 23, M 41, M42.