INTERNAL AUDIT - STRATEGIC FUNCTION AND COMPLIANCE WITH INFLUENCES IN THE ACTIVITY OF THE ECONOMIC ENTITY

Internal audit is of major importance within an entity at operational level in terms of testing compliance with its corporate governance policies and rules, risk management processes and control systems. Internal audit, corporate governance and risk management contribute to increasing the performance of an entity by contributing to achieving the objectives pursued, creating added value and limiting risks The efficiency of internal audit work leads to a higher probability in identifying and reporting financial distortions and correcting them, helping to improve the risk management of identifying and reporting distortions in the entity, which leads us to the idea that it can contribute to better performance. The role of the internal audit function has expanded and continues to extend beyond the traditional responsibilities of the compliance area, moving its centre of gravity towards a strategic direction within the entity, being increasingly considered a strategic function of the entity.