Emerging Trends and Innovation in Internal Audit Practices : An Indian Perspective

A sound audit practice is the backbone of any corporate governance system. It supports in making high-quality audit report which throws light on the true and fair view of accounts maintained by the companies. High-quality audit reports enhance the confidence in the minds of various stakeholders and their value as well. Internal audit practices followed by the company are essential in preventing financial frauds and manipulation of books of accounts and help in assuring a true and fair view of financial statements. This article outlines the emerging trends in internal audit practices and various innovations therein