In Europe and around the world, after the financial crisis, some measures have been taken in order\r\nto stabilize the financial system. Through present research we analyze the statements regarding the\r\ninternal control in corporate governance, statements made by both external auditors and those\r\nresponsible with the management of listed entities. These statements help the auditor in preparing\r\nthe audit plan. Following this review, the auditor determines necessary staff and time needed for\r\nthe audit.\r\nWe analyzed effectiveness of internal control in companies listed on Bucharest Stock Exchange. An\r\neffective internal control leads to a fair presentation of the financial statements and thus increases\r\nstakeholders� confidence in the financial statements. Control risk is a risk that the auditor can�t\r\neliminate it, but may decrease it.
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