THEORETICAL ASPECTS OF INTERNAL AUDIT’S EVALUATION NECESSITY

Recent trends on the international markets, particularly the significant fraud and bankruptcy cases that impacted the global as well as the European business environments have brought into attention the issue of having an efficient and transparent corporate governance. As a consequence, audit committees and executives give an increasing importance to the internal audit, in order to fulfill the responsibilities associated with governance. Internal audit must be performed at the highest professional level; it must have as a goal the continuous improvement of performance.