For correspondence:-
Received: June 8, 2020 Accepted: August 8, 2020 Published: September 30, 2020
Citation: Professionalisation of Internal Auditing: A vision or mere Supposition?: Insights from a Developing Economy - Nigeria. Account Tax Rev 2005; 4(3):77-92 doi:
© 2005 The authors.
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Abstract
Whereas the distinctions between internal and external audit are unambiguously established in the literature, and the two types of audit are generally referred to as audit,internal auditing practitioners worldwide are however continuously advocating for a separate identity for themselves. Incidentally, The Institute of Internal Auditors (IIA), a global internal auditing professional body established in the U.S. in 1941 is championing this advocacy. Seventy-nine (79) years after its formation, however, it seems the Institute is still grappling with the issue of professionalisation of internal auditing and the accomplishment of the desired status for the internal audit practitioners globally. This exploratory study traces the various developments in the practice of internal auditing, the IIA’s push for improved status for internal auditing practice reflects on the current status of internal audit practices within the context of a developing economy-Nigeria. It also offers some practical thoughts on how the professionalisation agenda of internal auditing can be achieved in the country.
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