Internal auditing has transformed over the past two decades from its beginnings as a financial enforcer to a respected member of the management decision‐making process. Internal auditors now are providing management with information of a broader range of company activities than they are used to. This transformation is far from over because of the nature of the auditor′s work and the perceptions of management and the public concerning audits. The function of internal auditors is not only to measure and evaluate the effectiveness, efficiency and economy of organisational activities and controls but also to participate with management in high‐level decision making. The partnership concept of internal auditing is needed to enhance the image and change the attitudes of management with regards to internal auditing in light of the increased demands and responsibilities of the new auditor. Students, internal auditors and management must be educated properly and trained for this partnership concept. By using the internal auditor as part of the management team and by offering more to management and assuming more risk, the goals of the organisation are more likely to be achieved effectively, efficiently and economically.
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