Modern internal audit

This thesis examines the shift in the role of internal audit from a traditional control-oriented approach to a modern advisory/consulting role that actively contributes to improving organizational effectiveness. The theoretical section of the thesis traces the historical development of the profession up to the present day and analyzes current knowledge in this field, particularly in light of the new 2024 Global Standards for the Professional Practice of Internal Auditing. Special attention is given to the specifics of auditing in financial institutions (which are under the strict supervision of the Czech National Bank) and the impact of modern technologies, particularly artificial intelligence, on the potential future of the profession. The practical section analyzes real-world facts and data from a selected financial institution. Using quantitative analysis of audit engagements and specific examples of the advisory role of internal audit, the thesis examines and demonstrates that modern internal audit brings added value to the company by identifying inefficiencies and proposing process optimizations. The results confirm that this shift is indeed taking place in practice and demonstrate that modern internal audit can establish itself even within the strictly regulated financial sector. It is thus gradually becoming a strategic partner to management, with the greatest potential for its future development lying in further digitization and automation, particularly through the use of AI tools.