The most important role of internal audit is to reduce risks and increase efficiency. Internal audit and risk management functions require more complex audit competencies than ever before. If required by law, only a registered internal auditor may perform these activities. 

Outsourcing internal audit is becoming increasingly common. 

In the current economic environment, the focus is on efficiency. Companies that do not make best use of their resources may be at a significant competitive disadvantage, and the resulting increased risks will not be tolerated by the owners and investors. 

Nowadays, it is a serious challenge for internal auditors and one of the most risky areas is IT security; only a few have sufficient expertise to audit this area. 

Internal audit standards 

Activities are performed in different legal and cultural environments in entities of different purposes, sizes, complexities, and structures by internal or external individuals. As differences in the particular environment may affect internal audit practices, it is essential that the responsibilities of internal auditors and the such activities should be consistent with the International Standards for the Professional Practice of Internal Auditing. 

Code of Ethics of Internal Auditors 

Internal auditors must meet strict ethical requirements. These requirements are set out in the Code of Ethics of Internal Auditors. The Code of Ethics applies to persons performing these activities in budgetary authorities, including external service providers. 

Certified internal auditor 

Our experts are certified internal auditors, registered auditors qualified in the auditing of state budget funded institutions Several of our staff members have been registered as internal auditors, thereby we can also perform the internal audit of budgetary authorities and other organizations classified in the government sector based on legal obligations. The list of registered internal auditors is available here: https://allamhaztartas.kormany.hu/nevjegyzek