engleski

The Role of Internal Audit in Food Retailing

The internal audit function transformed to an advisory and expert function and became a key factor of efficient business management. It also represents higher business control, evaluation, support and assistance in risk management, internal controls and corporate governance or in other words, internal corporate governance mechanism. Food retail sector and food retailers as significant part of national economy, represent one of the most important and key economic sector in Republic of Croatia and activity that among first, after severe economic crises, achieves positive results. Nowdays, the presumption of business success are innovations and their acceptance by food retailers. These innovations allow businesses to save time and minimize costs that eventually lead to achieving competitive advantage and successful business. In this process, internal audit activity has irreplaceable role because it helps governance structures in making appropriate business decisions that improve food retailers business, their growth, development and existence in today's complex and uncertain retail environment.

internal audit, food retailers, management process, innovations, risk management

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