Internal Auditing: History, Evolution, and Prospects

Internal auditing originated in the early 20th century as businesses sought to ensure accuracy in their financial practices. Over the years, it evolved from simple record-keeping checks to a comprehensive evaluation of risk management, governance, and compliance systems. Today, internal auditors play a crucial role in helping organizations improve processes, enhance operations, and ensure accountability. Looking ahead, the integration of technology, such as data analytics and artificial intelligence, is expected to reshape internal auditing, making it more efficient and proactive in identifying risks and opportunities for improvement.