Abstract The attached statement of the responsibilities of the internal auditor was prepared by the Research Committee and approved by the Board of Directors at its meeting of July 15, 1947. In taking this action the Board was desirous of lending its full support and that of, the institute to the statement. It was not intended, however, that the treatment of the various matters in the statement was considered in any sense to be final or fixed. Rather it was recognized that the principles and concepts relating to internal auditing are evolving constantly. The approval therefore represented essentially an endorsement of what the Board believes to be a fair and considered statement of the responsibilities of the internal auditor at its present stage of development. The statement is therefore subject to such further modification in the future as may appear to be warranted in the light of new conditions and needs and through further development in the professional stature of the internal auditor.
A Thu, study studied this question.