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Nature of Internal Audit work (ASPECTS TO BE PLACED FOR LISTED COMPANIES…
Nature of Internal Audit work
LEVELS WITHIN ORGANISATION
Audit at Strategic level
Audit at business unit level
Audit at business process level
ASPECTS TO BE PLACED FOR LISTED COMPANIES
Structure
Policies
Procedures
System
Processes
Law
Regulations
RISKS AT VARIOUS LEVELS
Strategic risk
Operational risk
STRATEGIC PLAN
Management
Operational Direction
Understanding
STRATEGIC FRAMEWORK
Vision
Mission
Strategic objectives
Stakeholders
Business
FOCUS ON IA
IA role in GRC
evaluate
improve
help
effectiveness
Responsibility of GRC
Management
Main responsible party
implement
establish
mantain
Objectives of Internal control
Reporting
transparency
internal or external reporting
financial or non financial reporting
Compliance
laws
regulations
contracts
operational
reliability and integrity
effectiveness and efficiency
safeguarding of assets
control component(COSO)
monitoring
information and communication
control activities
risk assessment
control environment
organising
directing
planning
controlling
Control activities
CONTROL IN IT ENVIRONMENT
system development and program change document
hardware and software
system documentation control
standard operating procedures for systems
security controls
Organisational control related it personnel