Acta Universitatis Danubius. Œconomica, Vol 16, No 3 (2020)

Abstract

The pervasive advances in information technology, coupled with sustainability challenges and the gruelling real-time stakeholder demands consistently challenge the auditing profession. As a result, organisations are more frequently turning to their internal auditing departments to help with the task of identifying emerging risks and guiding risk management protocols consistent with the dynamic risk landscape. The auditing professionals are increasingly being judged and evaluated for their ability to adapt and be forward-looking in matters of risk assessment. For that reason, internal auditors are forced to adopt lateral thinking and adapt to emerging risks. Several examples in recent years have shown the immense responsibility that internal auditing professionals must carry, and the present