Current relationship between Corporate Governance, Accountability and Integral Audit: a reformulated vision

Abstract

The  search of profitability by the  organizations in  front of an increasingly  globalized market,  where  the  risk  appetite  and  the  level  of  competitiveness  ascend  in  an unrestrained  way,  have  caused  that  the  activities  carried  out  by  audit  (internal  or external) are impaired or are insufficient in the face of the escalation of events that have corruption as a constant and lack of business ethics. Therefore, the aim of the current paper was based on the description of relationship that Integral Audit has towards the adoption of an appropriate system of corporate governance, implying accountability to all  those  involved,  both  internal  and  external  in  the  system,  applying  a  qualitative approach to the different international standards issued by organizations such as AICPA (2016), Cadbury Committee (1992), COSO (2013), OECD (2016), as well as various doctrinal studies conducted on this subject by authors such as Arellano (2017), Englund, Gerdin  y  Abrahamsson  (2013),  Caridad,  Hernández  y  De  Pelekais  (2014),  García-Marzá  (2017),  Dai  y  Vasarhelyi  (2016),  Claessens  y  Yurtoglu  (2012),  among  others. The international standards seek to strengthen transparency in organizations, necessary for the performance of their operations that benefits the society where they develop their commercial activities. However, the challenge of Integral Audit is huge around the acts of  corruption  that  have  taken  place.  Thus,  it  is  necessary  to  make  a  description  that contributes to verify the appropriate course so that Integral Audit contributesto generate value  and  strengthen  transparency  in  organizations.  The  study  shows  that  there  is  an inherent  interrelation  between  the  systems  on  the  basis  of  which  organizations  are managed  and  accountability,  mandatory  to  promote  transparency,  but  that  it must  be evaluated and monitored through the permanent application and reformulated vision of Integral Audit.