The role of internal audit in risk management– Evidence from private sector of Kosovo

The aim of this study is to examine the role of internal audit function in risk management and challenges that have an effect on this function in the case of private companies of Kosovo. The method chosen for the research is based on structured questionnaire survey sent to all head of internal audit of 21 biggest large private companies in Kosovo and interviews held with some of them. Based on responses received, the results show us that the role of internal auditors in the risk management is very important, but first there are many activities within the organization which must be improved. The analysis results show that internal auditors understand the concept of risk management and know that they role is very important within company, however they know that restricted access, non competent staff, un sufficient funds and non interest of management to increase the effect of the internal audit, are issues that hinder performance of internal audit in risk management. As the role of internal audit function in the private sector in Kosovo, has been very rarely empirically examined, this study attempts to contribute to future studies that relate to a very important issue such as risk management