The Role of Internal Audit in Engineering Project Risk Management

In order to minimize the losses caused by internal and external enterprise risk, also, achieve maximization of enterprise value; internal audit department in large numbers of engineering enterprise starts to be involved in risk management. The paper is aimed at illustrating how an engineering enterprise should carry out internal audit for risk management by adopting methods of identifying and evaluating risk such as AHP and etc. Moreover, analyzing advantages of internal audit involved and current situation of development in our country engineering risk management. Finally, in combination of several practical measures put forward by our country to perfect internal audit, risk-oriented internal audit is suggested to be comprehensively applied in risk management of engineering enterprise so that enterprise can improve successfully core competitiveness to promote development of economy in the age of comprehensive risk management. (C) 2011 Published by Elsevier Ltd. Selection and/or peer-review under responsibility of ICAE2011.