The paper highlights how internal audits have expanded their scope beyond regulatory compliance reviews. They now also include management assessments, risk analysis and improvement proposals that reinforce their strategic role in the institutions.

Recent reforms in HEIs have granted greater autonomy to institutions, allowing them to manage their own resources. However, this autonomy is accompanied by greater accountability, establishing an interesting balance between independence and oversight.

It highlights how internal audit recommendations, when properly implemented, have a significant positive impact on management improvement, compliance and accountability. Follow-up mechanisms, such as review audits and internal standards, are essential to maximize this effect.

While there are common trends in the implementation of internal audits, the cultural, legal and operational specificities of each country present unique challenges. This point opens a field of interest to investigate how to adapt successful practices in different international contexts.

It is evident that less than half of the HEIs in Portugal have been externally audited in the last five years, leaving a significant gap in external control. This may compromise the quality of monitoring and public accountability in these institutions.

Although many HEIs have internal audit departments, some lack such offices due to resource constraints, particularly the smaller ones. This reduces their ability to conduct comprehensive and high quality audits.

Restricted focus on regulatory compliance: Although internal audits have evolved toward a more strategic approach, regulatory compliance audits still predominate. This limits the potential of audits to address broader aspects of strategic and operational management.

Internal audit reports are perceived primarily as internal tools intended for boards of directors and not as mechanisms to improve external transparency. This reduces their potential to generate public confidence and increase institutional transparency.

Internal audit plays a crucial role in identifying areas of risk, potential irregularities or fraud, and proposing measures to mitigate them. This not only protects public resources but also improves operational security within the institutions.

The information generated by internal audit is considered a valuable resource that improves management effectiveness and supports HEI leaders in making strategic decisions that are more informed and aligned with institutional objectives.

Internal audit evaluates and supervises the internal control systems implemented, ensuring that they are adequate, effective and efficient. This not only benefits the management of public resources, but also prevents deviations and improves compliance with objectives.