عنوان مقاله [English]
The corporate governance system is a concept that recently has been emerged regarding the accountability of the organizations. The corporate governance has been defined as mechanisms with which steering and monitoring of firms are conducted, and in many accounting and auditing researches, it has been referred to the role of the internal controls, internal audit and audit committee in its mechanisms and functions.
In this paper, first, we take a look at corporate governance concepts and tentative classification models of corporate governance are explained based on the design of separation between ownership and management, control and interrelationship among different managing and controlling groups. Then, there is a reference to Organization of Economic Co-operation and Development (OECD) principles for corporate governance.
Furthermore, this paper reviews the role and functions of internal controls, internal audit and audit committee, and the individualized components of internal control based on the COSO Report are presented.