Conclusions

It is clear from the study that internal auditing is a young profession for much of Europe: 57 % of the surveyed internal audit functions have existed for less than 10 years, a figure that is also reflected in the average duration of IIA membership. This characteristic is most apparent in Eastern Europe, where the proportion of young internal audit functions is highest. The growth of corporate governance codes and other regulatory requirements over the last ten years may be one of the drivers that have pushed so many organizations to set up an internal auditing function.