Eureka! Institutional Repository

Audit as a meaning was developed in recent years, although the need of control existed from the ancient times. The audit was always connected with humans through accounting operations throughout the ages of history. Audit may be grouped into two main categories: internal and external. The external audit is a periodic or specific purpose audit conducted by external qualified accountants. The internal audit is the audit which is organized within the economic unit and conducted by employees. In particular, internal audit is considered to encompass the audit of both operational activities as well as financial activities.It has a major role in designing and developing the internal control system and support the corporate governance. Internal audit contributes in measuring and evaluating the risks surrounding the work environments. In addition, it creates a climate of certainty and prevents from irregularities and thefts.Alongside, over the last few years the role of the internal auditor has been recognized as a special role within organizations.Internal auditors provide important support to organizations. The purpose of this thesis is to examine the usefulness of internal audit. It aims to identify the role of the internal audit in controlling the financial and managerial performance in organizations.