INDEPENDENCE AND OBJECTIVITY OF INTERNAL AUDITORS AS DETERMINANTS OF THEIR EFFECTIVENESS

Abstract

The aim of this paper is to highlight the issue of independence and objectivity of internal auditors, which, given the place and role of internal audit in the system of corporate governance, is increasingly gaining in importance. In determining these concepts, the difference between them is pointed out, with particular emphasis their importance for internal audit effectiveness. By introducing circumstances in which internal audit functions, the paper especially emphasizes the challenges that internal auditors face in achieving independence and objectivity in their work. In this process, they receive significant support from regulatory decisions regarding the position of internal audit in companies, and especially directions to invest efforts and eliminate all factors that threaten to undermine their independence and objectivity.