In present business conditions, which are characterized by the dynamics and complexity of the environment, and increasing differentiation within the company, controlling and internal audit appear as tools that contribute to more effective management. They represent an extended hand to management, contribute to the growth and development of society and strive for better quality business. Internal audit is an independent and objective provision of engagement with the expression of assurance and consulting services, designed to contribute to the creation of added value and improve the operations of the organization or company. Expectations from internal audit in terms of its support in creating added value, by generating the information needed to identify, understand and assess risk, are particularly emphasized today. It has imposed itself as an irreplaceable mechanism of corporate governance. It contributes to increasing the quality of business and is focused on the business of the company in the broadest sense. With a holistic view of the company's business, it timely anticipates risks and problems that may affect the ability to achieve business goals. Controlling is a function that deals with a detailed analysis of the business and observes everything that is or will be the subject of management interest. The role of the controller is to coordinate and integrate individual business segments as a whole to ensure a detailed overview of the company's operations. One of the more important tasks of controlling is business planning. In the business world, planning is crucial and the function with which the whole management process begins. Planning defines in which direction the organization wants to go in the future and anticipates the ways in which it can achieve the desired goals. For controlling planning is creating the desired future. Controlling primarily encourages responsibility in order to achieve the set goals, while internal audit is an ex-post supervision that objectively and independently helps the company in meeting its goals and tasks. Internal audit is tring to improve business through the improvement of business processes, correction of irregularities, elimination of errors or fraud. The position of internal audit and controlling in the company depends on the correct understanding of their purpose and role by management. Modern business practice knows the functions of internal audit and controlling as the basic instruments of company management in accordance with the set goals.