Problemi Ekonomiki (Dec 2018)
A Comparative Historical Analysis of the Development of the Institution of Internal Audit
Abstract
The aim of the article is to conduct a comparative historical analysis of the development of the institution of internal audit and determine the prerequisites for the formation of a new phase of its development in the context of European integration. The paper proves that the active development of internal audit in the world began in 1941 with the publication of the first book on internal audit and the creation of the Institute of Internal Auditors. To determine the impact of the Institute of Internal Auditors on the development of internal audit, the work analyzes the main events that became a prerequisite for its formation and the further popularization of the internal audit profession on the world stage. It is proven that the establishment and evolution of the Institute of Internal Auditors had a significant impact on the development of the methodology and organization of internal audit throughout the world, and the standards of internal audit developed by the Institute provide comprehensive guidance for the professional activities of internal auditors through adherence to the principles which are the basis for conducting audits and promoting the internal audit profession. For further study of the history of the development of internal audit and the determination of the prerequisites for the formation of a new phase of its development, the article examines the approaches to phasing the history of internal audit covered in the scientific literature. It is proposed to single out a new phase of the global development of the institution of internal audit — the phase of global outspread and informatization of internal audit. The chronology of the phases of the development of the institution of internal audit in Ukraine is proposed to be supplemented with the phase of internationalization and harmonization, which takes into account the influence of European integration processes.
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