Introduction to internal auditing

The institute of internal auditors South Africa(IIA-SA),it is the second largest institute in the world.Objective of IIA SA is to assist its members this is done through learnership programmes,courses,seminars and conferences.

History of auditing ,dating back to 4000BC first system of verification was developed .In the early 1900s the concept of auditing evolved into two unique areas of specialisation namely internal and external

History of internal audit, the task performed by internal auditors varied from checking of routine financial and operational activities to analysing and appraising these activities. From being watch dogs to guide dogs.

Institute of Internal Auditors (IIA),is the world leader in internal auditing.It presents conferences,seminars,conducts valuable research and also certifies newly qualified internal auditors.Worldwide growth in the profession led to a demand for local internal audit instituites to be formed in countries.

What is internal auditing? An independent objective assurance and consulting activity designed to add value and improve an organisations operations .It helps an organisation accomplish its objectives by bringing a systematic disciplined approach to evaluate and improve the effectiveness of risk management ,control and governance process.

The Professional Practices Framework(IPPF) set of guidelines that define the proper role and responsibilties of the internal audit activity

Mandatory guidance

Recommended guidance

Definition of internal auditing,its the umbrella under which the rest of the elements of IPPF falls

Code of ethics , applies to all internal auditors registered as members with the IIA who perform internal audit services

Standards ,consists of various criteria against which the activities of internal auditing are evaluated and measured.

Core principles of Internal auditing, underpin internal audit effectiveness. Demonstrates integrity competence and due professional care

Implementation guidance, assist internal auditors in applying the definition of internal auditing ,code of ethics and standards

Supplemental guidance ,
assist a wide range of interested parties in understanding the importance of governance, risk and control issues

Mission of internal auditing ,to enhance and protect organisation value by providing risk based and objective assurance , advice and insight

Attribute standards 1000 series

Performance standards 2000 series

Interpretation

Implementation standards

Interpretation

Implementation standards

assurance standards

consulting standards

assurance standards

consulting standards

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