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Definition of Internal Auditing

The Definition of Internal Auditing states the fundamental purpose, nature, and scope of internal auditing.

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

International Standards for the Professional Practice of Internal Auditing (Standards)

NEW! Proposed changes to the Standards are being exposed to members worldwide from February 1 – April 30. Learn more about the changes and how you can participate.

Standards are principle-focused and provide a framework for performing and promoting internal auditing. The Standards are mandatory requirements consisting of:

* Statements of basic requirements for the professional practice of internal auditing and for evaluating the effectiveness of its performance. The requirements are internationally applicable at organizational and individual levels.

* Interpretations, which clarify terms or concepts within the statements.

* Glossary terms.

It is necessary to consider both the statements and their interpretations to understand and apply the Standards correctly. The Standards employ terms that have been given specific meanings as noted in the Glossary, which is also part of the Standards.

  A Message from the Standards Board: Proposed Changes to The Standards

Revised Standards, Effective January 1, 2013

The International Internal Audit Standards Board (IIASB) recently released the revision to the Standards following consideration and approval by the International Professional Practice Framework Oversight Council (IPPFOC).

Ensuring Independence and Objectivity

Many organizations are restructuring responsibiities, ensuring governance and monitoring functions collaborate more closely to...