The importance of internal audi̇ting in corporate governance practices

Following the collapse of USSR in 1991, globalization led a rapid growth of integration across countries, which significantly increased the importance of the self managing for the businesses as well as nations. Principles of the corporate governance promotes both transparency and equality, and also aims to increase shareholder wealth in the long run. Following the financial crises and bankruptcies in 1990's, principals of corporate self managing become as important as financial analyzes. When we examine the self managing from the perspective of corporate governance, it leads to improved business processes, better corporate performance, higher added value, and efficient human resources practices. Thus, self managing could be an essential part of corporate governance. Self managing is also related to strong governance mechanism. Since auditing gained significant importance in recent years, self managing provides not only quality, but also suggests the success of corporate governance.