Evolution of management audit development

Abstract

In the modern business world, internal audit stands out as the most important tool for ensuring the efficiency and sustainability of corporate structures. Its role in risk management and ensuring compliance with internal standards becomes key to achieving the organization's strategic goals. Internal audit and risk management are key components of effective corporate governance. Internal audit is a systematic and independent examination of an organization's activities to assess the compliance of its internal processes and procedures with established standards and rules. In addition, internal audit plays an important role in ensuring the organization's compliance with laws and regulations, which also involves minimizing the risk of legal problems. Auditors conduct audits to ensure that an organization's activities comply with applicable regulations and requirements. As a result, internal audit and risk management are closely interrelated and are aimed at ensuring the sustainability and effectiveness of the organization. Regular audits help identify weaknesses in risk management and warn against possible negative consequences for the business.