Evolution of Internal Audit and its Adaption to the rapidly changing Business Environment
In today's world changing businesses is very rapidly increasing which is evolving the role of Internal Audit. Traditionally, Internal Audit has been viewed as a role that gives assurance to organisations regarding their control processes, risk management and governance. However, to cope with today’s advent of digital transformation, increasing regulatory complexity and stakeholder expectations, Internal Audit must adapt and change to be relevant and effective. Source: Internal Audit As per the article “ Repositioning The Internal Audit Team As A Strategic Business Partner ” briefs on the point that one of the most significant issues that Internal Audit has today is reconciling its traditional job of providing assurance with its expanding role as a strategic business partner. This issue can be resolved if Internal Auditor’s just outstrip the demonstrating the errors and compliancy. The article also states that enlightening and proactive information that can really let the organi...