The Institute of Internal Audit (IIA) recommends workflows to be iterative, not linear. The IIA’s latest updates to the Global Internal Audit Standards foster greater flexibility in engagement work programs, emphasizing that steps may need to be done out of order or concurrently to optimize ...
Design/methodology/approach - – This study is predicated on the meta-analysis of extant literature on IAQ, 56 interviews with internal auditors and AC members of public or para-public sector organizations in Canada, and archival documents published by the IIA, analyzed in the light of framing ...
Have a documented internal audit planning process To establish a proper basis for the deployment of internal resource as a third line function, it is a requirement of the new Global Internal Audit Standards (GIAS) that the internal audit plan is developed in accordance with a documented methodol...
This paper examines the impact of internal audit (IA) practices on the performance of commercial banks. Six factors were investigated, including the application of international IA standards, the independence and objectivity of the IA, the quality and pr
Second, Build a Strategy and Methodology The IIA Standards will include many things that the internal audit department is already doing; some things it isn’t doing, but maybe should be; and possibly certain things that you don’t see the internal audit function needing to do now or ever. ...
topics, including risk-based auditing, types of control, sampling and time (project) management. Depending on their previous experience and training they may also be up to date with cyber security risks and the latest thinking around areas such as lean internal audit and agile audit m...
is to characterize how those who perform (internal auditors), mandate (audit committee (AC) members), use (AC members and external auditors) and normalize (the Institute of Internal Auditors (IIA)) internal audit work, respectively make sense of the notion of "internal audit quality" (IAQ)....
Internal audit (IA) functions continue to undergo significant changes ranging from the expanded use of emerging technologies, including robust data analytics and artificial intelligence (AI), and options on where their people work (i.e., remote, hybrid o
Assists in the development of the annual Internal Audit plan. Support in the development and implementation of the evolving IA methodology. Contribute to the safeguarding of corporate assets and the interests of members by ensuring that appropriate internal controls are in place and operating effectivel...
the performance and value of the function. PwC’s methodology enables companies to align internal audit’s focus with strategic corporate priorities, enhance operational effectiveness, and ensure compliance with IIA standards to improve internal audit effectiveness and the overall efficiency of the ...