The role of internal audit in organizations

Audit as a meaning was developed in recent years, although the need of control existed from the ancient times. The audit was always connected with humans through accounting operations throughout the ages of history. Audit may be grouped into two main categories: internal and external. The external audit is a periodic or specific purpose audit conducted by external qualified accountants. The internal audit is the audit which is organized within the economic unit and conducted by employees. In particular, internal audit is considered to encompass the audit of both operational activities as well as financial activities.