Internal control has entered a period of extreme challenges. Internal auditors must be involved in things that are happening in the organization. They must have knowledge about the complex issues affecting the operations of their companies. Furthermore, they must identify the risks which managers may not be aware of. The factors such as business development and the history of financial disasters affect the public expectations concerning internal control and therefore its development. Although there is no method of internal control that is generally accepted throughout the world, there is a growing knowledge about what internal controls should cover. The key role of an auditor has changed from that of a detective or someone who shows what is wrong in the organization to the member of a management team that ensures that the organization continues to grow and prosper.

Control, management, accounting system, risk, organization, business environment

Presentation: oral