Comparative Study on the Organization of Internal Public Audit in Albania and Romania

The audit process has progressed and improved with the economic and political development of each country as response to the challenges of society and politics in each country and as result of the global changes' effect. The purpose of this study is to analyze the development of the audit concept and to study the main factors influencing the internal audit legislation in Albania and Romania. The research aimed to highlight some aspects of theory about how the internal audit has emerged in Albania and Romania, and to provide an overview of the differences and similarities of the two legislations on public internal audit. A detailed comparative study of the laws of both countries has concluded that Albania's legislation needs to be revised, as there are some issues that are not fully covered by the law. Efforts to improve the internal audit activity are numerous, but much remains to be done. Although Romania has a more comprehensive and detailed internal audit law, both countries need to strengthen the enforcement of legislation. For a reasonable use of public funds, the authors advocate the imposition of "restrictive"/"blocking" mechanisms or procedures for entities that do not comply with the legal provisions on internal audit.