IntroductionAudit is a word derived from the word Auditus, from Latin, which means “an audition”, past participle of audire “to hear”. To hear or see if an event is true. This describes the work of auditors in general. Auditing activity has been in place since 4000 BC, where it primarily focused on monitoring financial transactions. It later developed into a modern auditing activity during the Industrial Revolution. Subsequently, auditing was introduced to America, where foreign investors demanded independent checks on the financial strength of companies' records. The evolution of the concept of audit has given rise to a distinction between internal audit and external audit. Internal audit is an activity that exists within an organization; this allows internal auditors to fulfill their role in an entity as the eyes and ears of management. Body During the 1900s, economic growth made it difficult for management to maintain control of business activities and operational efficiency. To overcome these problems, people called internal auditors have been appointed to review and report on the effectiveness of corporate governance, risk management and control processes within the organization. This has given rise to different definitions of internal audit over time. (Coetzee, Bruyn and Fourie) Today, by definition, within the international framework of professional practices of the Institute of Internal Auditor (A guidance for internal audits). Internal audit is an independent and objective assurance and consulting activity designed to add value and improve the operation of an organization. It helps an organization achieve its goals by taking a systematic and disciplined approach to assessing and improving risk effectiveness...... middle of paper ......ebsite. April 31, 2014 .3. Auditors, Internal Institute. About Us. .4. Coetzee, Phila et al. Internal auditing: an introduction, 3rd edition. LexisNexis, 2012. Mango. Financial governance: Internal audit. 2014. May 2, 2014.5. Ramabulana. Internal audit service. April 1, 2014. April 25, 2014 .6. Wyk, Anton van and Shirley Machaba. “Resources: online articles. » April 1, 2014. in short. April 15 2014 .