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An Introduction to Internal Auditing (Definition of internal auditing…
An Introduction to Internal Auditing
History of Auditing
Internal auditing varied from the checking of routing facial and operational activities
The effect of increase numbers of transactions
government
Investors
History of the institute of internal auditor
Internal auditors demanded greater recognition on their profession
External
1990
internal
financial
operational
IIA
1941
Furnishing Information
establishing maintenance
purpose
advance its value
vision
risk management control
goals
raise profile,deploy both financial
external
Definition of internal auditing
Independent, objectives Assurance
consulting activity
designed to add value
improve an organisation operation
it help organisation to accomplish its objectives
by bringing a systematic, disciplined approach
to evaluate and improve the effectiveness
risk management ,control and governance processes
Framework for internal audit effectiveness (IPPF)
Mandatory Guidance
Core PRINCEPLES
Standards
Implementation Guidance
Supplemental Guidance
Recommended Guidance
Mission of the internal auditing
To hence
protect organisation
providing risk based
objective assurance
advice
and insight
Code Ethics
To promote an ethical culture
Assurance standards
Independent assessment of governance
Deals with Objective evaluation
Consulting standard
focus on consulting services
conducting staff training
participating in quality teams
Attribute standards
Performance standards
Nature of the work
Engagement planning
Purpose, authority