During last years, the audit activity worldwide and in Romania was continuously growing and follows the international trend based on management change point of view, those asses the important role of management and internal controls/audit to their business operations. The most important responsibility is nowadays attributed to control risk, referring to specific actions of identifying, controlling and managing risks. As some survey and interviews indicate, specific internal audit functions are reexamining fundamental value schemes by shifting from an internal audit model focusing on controls assurance to a risk-centric model where risk and control assurance are based on the effectiveness of risk management processes developed by management. The paper is focused to identify the actual international trends and recommendations in order to improve the efficiency of the audit activities aside with some idiosyncrasies that characterize the Romanian audit endeavor and possible lessons that should be learned.