TRADITIONAL VERSUS AGILE APPROACH TO INTERNAL AUDITING
TRADITIONAL VERSUS AGILE APPROACH TO INTERNAL AUDITING

Summary/Abstract: Internal auditing has been continiously evolving and adapting throughout its existence. Traditionally, it was conceived as an assessment of financial information, including an assessment of the efficiency and effectiveness of the internal control system. The modern approach to internal auditing focuses on the adequacy of risk management, control and corporate governance. Internal auditing is now expected to introduce new auditing approaches that should provide flexibility, enable faster provision of information on regulatory compliance, and focus on adequate risk prediction and strategic management of the organization. This approach would have a timely response and ensure the adaptation of internal auditing to dynamic changes in both the internal and external business environments. The agile approach to auditing is still in its infancy and we cannot say that it is sufficiently applied in practice, but it is expected that it could improve the quality of internal auditing. The purpose of this research is the comparison and systematization of the characteristics of traditional and agile approaches to performing internal auditing and the identification of the contribution of internal auditing. The study utilized the methods of description, systematization and classification, analysis, synthesis, induction and deduction, comparison, statistical methods, and proof.

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