Internal Auditing: The Changing Perspective in Indian Companies

Abstract

Internal Audit has shifted focus from internal financial controls to compliance audit, from operational audit and to management audit. With the shift in focus, the management accounting profession shall be the linchpin of the internal audit team. Internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. it helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.