Internal Audit on the Procedure of the Expertise of the Public Enterprise in Bosnia and Herzegovina

Abstract

Expertise, findings and opinions based on expert knowledge of the facts are given to the court or
other body before which the proceedings are conducted and as such the action contributes to the realization of the principle of seeking the truth. An expert appointed by the body before which the proceedings are
conducted is obliged to respond to the summons and present his / her findings and opinion. If there are deficiencies in the expert’s opinion that cannot be remedied by repeated analysis and examination process, the
opinion of another expert is required.
The role of internal audit adds value and improves the type of controls within the company. According to
the International Standards for the Professional Practice of Internal Auditing (IIA) and in accordance with
the Law, public companies in Bosnia and Herzegovina establish Internal Audit Departments / Internal Audit
Departments (Name according to the Entity Law). These Departments / Departments are responsible for
preparing the Annual Risk Study and the Audit Plan (Strategic Plan and Annual Plan). They are required to
identify and assess risks that could potentially jeopardize the achievement of the company’s goals.