Internal Audit
Internal auditing is an independent, objective assurance and advisory service designed to add value and improve an organization鈥檚 operations.
It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of governance, risk management, and control processes.
Types of Services
Assurance service
Services through which internal auditors perform objective assessments to provide assurance. Examples of assurance services include compliance, financial, operational or performance, and technology engagement. Internal auditors may provide limited or reasonable assurance, depending on the nature, timing, and extent of procedures performed.
Advisory Service
Services through which internal auditors provide advice to an organization鈥檚 stakeholders without providing assurance or taking on management responsibilities. The nature and scope of advisory services are subject to agreement with relevant stakeholders. Examples include advising on the design and implementation of new policies, processes, systems, and products; providing forensic services; providing training and facilitating discussions about risks and controls.