• Holtjana Bello Risk&Audit Consulting
Keywords: Public Sector, Audit, Corporate Governance, Accountability, Internal Controls, Risk Management


The main question around which this paper is based is whether the public sector in Albania needs to establish the Audit Committees as a demand for enhanced quality of services and accountability over the use of public funds is increasing. This paper analyzes the role of public sector Audit Committees in common law practices established to advise management on the adequacy of structures and processes that ensure the integrity of the accounting, auditing, risk management internal controls, and financial reporting. This paper founds out that Audit Committees are not best practices established in every country considering the fact that this practice is appropriate to the private sector corporate governance. However, it reveals that lack of such committees put into question the achievement of good governance objectives. Therefore, this document recommends the establishment of the Audit Committees across the public sector as a practice strongly recommended in the central government bodies within United Kingdom. Such Committees will advise the head of public organizations on risk exposure, corporate governance and control issues, and will enhance and improve the professionalism of internal auditors who still in Albania are adopting and relying on a traditional financial internal audit approach.

Author Biography

Holtjana Bello, Risk&Audit Consulting
PhD Candidate/Risk&Audit Consulting


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