CINXE.COM

<!DOCTYPE html> <html class="client-nojs vector-feature-language-in-header-enabled vector-feature-language-in-main-page-header-disabled vector-feature-sticky-header-disabled vector-feature-page-tools-pinned-disabled vector-feature-toc-pinned-clientpref-1 vector-feature-main-menu-pinned-disabled vector-feature-limited-width-clientpref-1 vector-feature-limited-width-content-enabled vector-feature-custom-font-size-clientpref-1 vector-feature-appearance-pinned-clientpref-1 vector-feature-night-mode-enabled skin-theme-clientpref-day vector-toc-available" lang="en" dir="ltr"> <head> <meta charset="UTF-8"> <title>Internal audit - Wikipedia</title> <script>(function(){var className="client-js vector-feature-language-in-header-enabled vector-feature-language-in-main-page-header-disabled vector-feature-sticky-header-disabled vector-feature-page-tools-pinned-disabled vector-feature-toc-pinned-clientpref-1 vector-feature-main-menu-pinned-disabled vector-feature-limited-width-clientpref-1 vector-feature-limited-width-content-enabled vector-feature-custom-font-size-clientpref-1 vector-feature-appearance-pinned-clientpref-1 vector-feature-night-mode-enabled skin-theme-clientpref-day vector-toc-available";var cookie=document.cookie.match(/(?:^|; )enwikimwclientpreferences=([^;]+)/);if(cookie){cookie[1].split('%2C').forEach(function(pref){className=className.replace(new RegExp('(^| )'+pref.replace(/-clientpref-\w+$|[^\w-]+/g,'')+'-clientpref-\\w+( |$)'),'$1'+pref+'$2');});}document.documentElement.className=className;}());RLCONF={"wgBreakFrames":false,"wgSeparatorTransformTable":["",""],"wgDigitTransformTable":["",""],"wgDefaultDateFormat":"dmy", "wgMonthNames":["","January","February","March","April","May","June","July","August","September","October","November","December"],"wgRequestId":"420c6546-f49e-4a1c-aa7b-febc3b43bbf4","wgCanonicalNamespace":"","wgCanonicalSpecialPageName":false,"wgNamespaceNumber":0,"wgPageName":"Internal_audit","wgTitle":"Internal audit","wgCurRevisionId":1258709985,"wgRevisionId":1258709985,"wgArticleId":5164286,"wgIsArticle":true,"wgIsRedirect":false,"wgAction":"view","wgUserName":null,"wgUserGroups":["*"],"wgCategories":["Articles with short description","Short description is different from Wikidata","All articles with unsourced statements","Articles with unsourced statements from May 2021","Internal audit","Auditing","Types of auditing"],"wgPageViewLanguage":"en","wgPageContentLanguage":"en","wgPageContentModel":"wikitext","wgRelevantPageName":"Internal_audit","wgRelevantArticleId":5164286,"wgIsProbablyEditable":true,"wgRelevantPageIsProbablyEditable":true,"wgRestrictionEdit":[],"wgRestrictionMove" :[],"wgNoticeProject":"wikipedia","wgCiteReferencePreviewsActive":false,"wgFlaggedRevsParams":{"tags":{"status":{"levels":1}}},"wgMediaViewerOnClick":true,"wgMediaViewerEnabledByDefault":true,"wgPopupsFlags":0,"wgVisualEditor":{"pageLanguageCode":"en","pageLanguageDir":"ltr","pageVariantFallbacks":"en"},"wgMFDisplayWikibaseDescriptions":{"search":true,"watchlist":true,"tagline":false,"nearby":true},"wgWMESchemaEditAttemptStepOversample":false,"wgWMEPageLength":40000,"wgRelatedArticlesCompat":[],"wgCentralAuthMobileDomain":false,"wgEditSubmitButtonLabelPublish":true,"wgULSPosition":"interlanguage","wgULSisCompactLinksEnabled":false,"wgVector2022LanguageInHeader":true,"wgULSisLanguageSelectorEmpty":false,"wgWikibaseItemId":"Q6452684","wgCheckUserClientHintsHeadersJsApi":["brands","architecture","bitness","fullVersionList","mobile","model","platform","platformVersion"],"GEHomepageSuggestedEditsEnableTopics":true,"wgGETopicsMatchModeEnabled":false, "wgGEStructuredTaskRejectionReasonTextInputEnabled":false,"wgGELevelingUpEnabledForUser":false};RLSTATE={"ext.globalCssJs.user.styles":"ready","site.styles":"ready","user.styles":"ready","ext.globalCssJs.user":"ready","user":"ready","user.options":"loading","ext.cite.styles":"ready","skins.vector.search.codex.styles":"ready","skins.vector.styles":"ready","skins.vector.icons":"ready","jquery.makeCollapsible.styles":"ready","ext.wikimediamessages.styles":"ready","ext.visualEditor.desktopArticleTarget.noscript":"ready","ext.uls.interlanguage":"ready","wikibase.client.init":"ready","ext.wikimediaBadges":"ready"};RLPAGEMODULES=["ext.cite.ux-enhancements","site","mediawiki.page.ready","jquery.makeCollapsible","mediawiki.toc","skins.vector.js","ext.centralNotice.geoIP","ext.centralNotice.startUp","ext.gadget.ReferenceTooltips","ext.gadget.switcher","ext.urlShortener.toolbar","ext.centralauth.centralautologin","mmv.bootstrap","ext.popups","ext.visualEditor.desktopArticleTarget.init", "ext.visualEditor.targetLoader","ext.echo.centralauth","ext.eventLogging","ext.wikimediaEvents","ext.navigationTiming","ext.uls.interface","ext.cx.eventlogging.campaigns","ext.cx.uls.quick.actions","wikibase.client.vector-2022","ext.checkUser.clientHints","ext.growthExperiments.SuggestedEditSession","wikibase.sidebar.tracking"];</script> <script>(RLQ=window.RLQ||[]).push(function(){mw.loader.impl(function(){return["user.options@12s5i",function($,jQuery,require,module){mw.user.tokens.set({"patrolToken":"+\\","watchToken":"+\\","csrfToken":"+\\"}); }];});});</script> <link rel="stylesheet" href="/w/load.php?lang=en&modules=ext.cite.styles%7Cext.uls.interlanguage%7Cext.visualEditor.desktopArticleTarget.noscript%7Cext.wikimediaBadges%7Cext.wikimediamessages.styles%7Cjquery.makeCollapsible.styles%7Cskins.vector.icons%2Cstyles%7Cskins.vector.search.codex.styles%7Cwikibase.client.init&only=styles&skin=vector-2022"> <script async="" src="/w/load.php?lang=en&modules=startup&only=scripts&raw=1&skin=vector-2022"></script> <meta name="ResourceLoaderDynamicStyles" content=""> <link rel="stylesheet" href="/w/load.php?lang=en&modules=site.styles&only=styles&skin=vector-2022"> <meta name="generator" content="MediaWiki 1.44.0-wmf.4"> <meta name="referrer" content="origin"> <meta name="referrer" content="origin-when-cross-origin"> <meta name="robots" content="max-image-preview:standard"> <meta name="format-detection" content="telephone=no"> <meta name="viewport" content="width=1120"> <meta property="og:title" content="Internal audit - Wikipedia"> <meta property="og:type" content="website"> <link rel="preconnect" href="//upload.wikimedia.org"> <link rel="alternate" media="only screen and (max-width: 640px)" href="//en.m.wikipedia.org/wiki/Internal_audit"> <link rel="alternate" type="application/x-wiki" title="Edit this page" href="/w/index.php?title=Internal_audit&action=edit"> <link rel="apple-touch-icon" href="/static/apple-touch/wikipedia.png"> <link rel="icon" href="/static/favicon/wikipedia.ico"> <link rel="search" type="application/opensearchdescription+xml" href="/w/rest.php/v1/search" title="Wikipedia (en)"> <link rel="EditURI" type="application/rsd+xml" href="//en.wikipedia.org/w/api.php?action=rsd"> <link rel="canonical" href="https://en.wikipedia.org/wiki/Internal_audit"> <link rel="license" href="https://creativecommons.org/licenses/by-sa/4.0/deed.en"> <link rel="alternate" type="application/atom+xml" title="Wikipedia Atom feed" href="/w/index.php?title=Special:RecentChanges&feed=atom"> <link rel="dns-prefetch" href="//meta.wikimedia.org" /> <link rel="dns-prefetch" href="//login.wikimedia.org"> </head> <body class="skin--responsive skin-vector skin-vector-search-vue mediawiki ltr sitedir-ltr mw-hide-empty-elt ns-0 ns-subject mw-editable page-Internal_audit rootpage-Internal_audit skin-vector-2022 action-view"><a class="mw-jump-link" href="#bodyContent">Jump to content</a> <div class="vector-header-container"> <header class="vector-header mw-header"> <div class="vector-header-start"> <nav class="vector-main-menu-landmark" aria-label="Site"> <div id="vector-main-menu-dropdown" class="vector-dropdown vector-main-menu-dropdown vector-button-flush-left vector-button-flush-right" > <input type="checkbox" id="vector-main-menu-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-main-menu-dropdown" class="vector-dropdown-checkbox " aria-label="Main menu" > <label id="vector-main-menu-dropdown-label" for="vector-main-menu-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-menu mw-ui-icon-wikimedia-menu"></span> <span class="vector-dropdown-label-text">Main menu</span> </label> <div class="vector-dropdown-content"> <div id="vector-main-menu-unpinned-container" class="vector-unpinned-container"> <div id="vector-main-menu" class="vector-main-menu vector-pinnable-element"> <div class="vector-pinnable-header vector-main-menu-pinnable-header vector-pinnable-header-unpinned" data-feature-name="main-menu-pinned" data-pinnable-element-id="vector-main-menu" data-pinned-container-id="vector-main-menu-pinned-container" data-unpinned-container-id="vector-main-menu-unpinned-container" > <div class="vector-pinnable-header-label">Main menu</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-main-menu.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-main-menu.unpin">hide</button> </div> <div id="p-navigation" class="vector-menu mw-portlet mw-portlet-navigation" > <div class="vector-menu-heading"> Navigation </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="n-mainpage-description" class="mw-list-item"><a href="/wiki/Main_Page" title="Visit the main page [z]" accesskey="z"><span>Main page</span></a></li><li id="n-contents" class="mw-list-item"><a href="/wiki/Wikipedia:Contents" title="Guides to browsing Wikipedia"><span>Contents</span></a></li><li id="n-currentevents" class="mw-list-item"><a href="/wiki/Portal:Current_events" title="Articles related to current events"><span>Current events</span></a></li><li id="n-randompage" class="mw-list-item"><a href="/wiki/Special:Random" title="Visit a randomly selected article [x]" accesskey="x"><span>Random article</span></a></li><li id="n-aboutsite" class="mw-list-item"><a href="/wiki/Wikipedia:About" title="Learn about Wikipedia and how it works"><span>About Wikipedia</span></a></li><li id="n-contactpage" class="mw-list-item"><a href="//en.wikipedia.org/wiki/Wikipedia:Contact_us" title="How to contact Wikipedia"><span>Contact us</span></a></li> </ul> </div> </div> <div id="p-interaction" class="vector-menu mw-portlet mw-portlet-interaction" > <div class="vector-menu-heading"> Contribute </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="n-help" class="mw-list-item"><a href="/wiki/Help:Contents" title="Guidance on how to use and edit Wikipedia"><span>Help</span></a></li><li id="n-introduction" class="mw-list-item"><a href="/wiki/Help:Introduction" title="Learn how to edit Wikipedia"><span>Learn to edit</span></a></li><li id="n-portal" class="mw-list-item"><a href="/wiki/Wikipedia:Community_portal" title="The hub for editors"><span>Community portal</span></a></li><li id="n-recentchanges" class="mw-list-item"><a href="/wiki/Special:RecentChanges" title="A list of recent changes to Wikipedia [r]" accesskey="r"><span>Recent changes</span></a></li><li id="n-upload" class="mw-list-item"><a href="/wiki/Wikipedia:File_upload_wizard" title="Add images or other media for use on Wikipedia"><span>Upload file</span></a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> <a href="/wiki/Main_Page" class="mw-logo"> <img class="mw-logo-icon" src="/static/images/icons/wikipedia.png" alt="" aria-hidden="true" height="50" width="50"> <span class="mw-logo-container skin-invert"> <img class="mw-logo-wordmark" alt="Wikipedia" src="/static/images/mobile/copyright/wikipedia-wordmark-en.svg" style="width: 7.5em; height: 1.125em;"> <img class="mw-logo-tagline" alt="The Free Encyclopedia" src="/static/images/mobile/copyright/wikipedia-tagline-en.svg" width="117" height="13" style="width: 7.3125em; height: 0.8125em;"> </span> </a> </div> <div class="vector-header-end"> <div id="p-search" role="search" class="vector-search-box-vue vector-search-box-collapses vector-search-box-show-thumbnail vector-search-box-auto-expand-width vector-search-box"> <a href="/wiki/Special:Search" class="cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only search-toggle" title="Search Wikipedia [f]" accesskey="f"><span class="vector-icon mw-ui-icon-search mw-ui-icon-wikimedia-search"></span> <span>Search</span> </a> <div class="vector-typeahead-search-container"> <div class="cdx-typeahead-search cdx-typeahead-search--show-thumbnail cdx-typeahead-search--auto-expand-width"> <form action="/w/index.php" id="searchform" class="cdx-search-input cdx-search-input--has-end-button"> <div id="simpleSearch" class="cdx-search-input__input-wrapper" data-search-loc="header-moved"> <div class="cdx-text-input cdx-text-input--has-start-icon"> <input class="cdx-text-input__input" type="search" name="search" placeholder="Search Wikipedia" aria-label="Search Wikipedia" autocapitalize="sentences" title="Search Wikipedia [f]" accesskey="f" id="searchInput" > <span class="cdx-text-input__icon cdx-text-input__start-icon"></span> </div> <input type="hidden" name="title" value="Special:Search"> </div> <button class="cdx-button cdx-search-input__end-button">Search</button> </form> </div> </div> </div> <nav class="vector-user-links vector-user-links-wide" aria-label="Personal tools"> <div class="vector-user-links-main"> <div id="p-vector-user-menu-preferences" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <div id="p-vector-user-menu-userpage" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <nav class="vector-appearance-landmark" aria-label="Appearance"> <div id="vector-appearance-dropdown" class="vector-dropdown " title="Change the appearance of the page's font size, width, and color" > <input type="checkbox" id="vector-appearance-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-appearance-dropdown" class="vector-dropdown-checkbox " aria-label="Appearance" > <label id="vector-appearance-dropdown-label" for="vector-appearance-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-appearance mw-ui-icon-wikimedia-appearance"></span> <span class="vector-dropdown-label-text">Appearance</span> </label> <div class="vector-dropdown-content"> <div id="vector-appearance-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <div id="p-vector-user-menu-notifications" class="vector-menu mw-portlet emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> <div id="p-vector-user-menu-overflow" class="vector-menu mw-portlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en" class=""><span>Donate</span></a> </li> <li id="pt-createaccount-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:CreateAccount&returnto=Internal+audit" title="You are encouraged to create an account and log in; however, it is not mandatory" class=""><span>Create account</span></a> </li> <li id="pt-login-2" class="user-links-collapsible-item mw-list-item user-links-collapsible-item"><a data-mw="interface" href="/w/index.php?title=Special:UserLogin&returnto=Internal+audit" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o" class=""><span>Log in</span></a> </li> </ul> </div> </div> </div> <div id="vector-user-links-dropdown" class="vector-dropdown vector-user-menu vector-button-flush-right vector-user-menu-logged-out" title="Log in and more options" > <input type="checkbox" id="vector-user-links-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-user-links-dropdown" class="vector-dropdown-checkbox " aria-label="Personal tools" > <label id="vector-user-links-dropdown-label" for="vector-user-links-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-ellipsis mw-ui-icon-wikimedia-ellipsis"></span> <span class="vector-dropdown-label-text">Personal tools</span> </label> <div class="vector-dropdown-content"> <div id="p-personal" class="vector-menu mw-portlet mw-portlet-personal user-links-collapsible-item" title="User menu" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-sitesupport" class="user-links-collapsible-item mw-list-item"><a href="https://donate.wikimedia.org/wiki/Special:FundraiserRedirector?utm_source=donate&utm_medium=sidebar&utm_campaign=C13_en.wikipedia.org&uselang=en"><span>Donate</span></a></li><li id="pt-createaccount" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:CreateAccount&returnto=Internal+audit" title="You are encouraged to create an account and log in; however, it is not mandatory"><span class="vector-icon mw-ui-icon-userAdd mw-ui-icon-wikimedia-userAdd"></span> <span>Create account</span></a></li><li id="pt-login" class="user-links-collapsible-item mw-list-item"><a href="/w/index.php?title=Special:UserLogin&returnto=Internal+audit" title="You're encouraged to log in; however, it's not mandatory. [o]" accesskey="o"><span class="vector-icon mw-ui-icon-logIn mw-ui-icon-wikimedia-logIn"></span> <span>Log in</span></a></li> </ul> </div> </div> <div id="p-user-menu-anon-editor" class="vector-menu mw-portlet mw-portlet-user-menu-anon-editor" > <div class="vector-menu-heading"> Pages for logged out editors <a href="/wiki/Help:Introduction" aria-label="Learn more about editing"><span>learn more</span></a> </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="pt-anoncontribs" class="mw-list-item"><a href="/wiki/Special:MyContributions" title="A list of edits made from this IP address [y]" accesskey="y"><span>Contributions</span></a></li><li id="pt-anontalk" class="mw-list-item"><a href="/wiki/Special:MyTalk" title="Discussion about edits from this IP address [n]" accesskey="n"><span>Talk</span></a></li> </ul> </div> </div> </div> </div> </nav> </div> </header> </div> <div class="mw-page-container"> <div class="mw-page-container-inner"> <div class="vector-sitenotice-container"> <div id="siteNotice"></div> </div> <div class="vector-column-start"> <div class="vector-main-menu-container"> <div id="mw-navigation"> <nav id="mw-panel" class="vector-main-menu-landmark" aria-label="Site"> <div id="vector-main-menu-pinned-container" class="vector-pinned-container"> </div> </nav> </div> </div> <div class="vector-sticky-pinned-container"> <nav id="mw-panel-toc" aria-label="Contents" data-event-name="ui.sidebar-toc" class="mw-table-of-contents-container vector-toc-landmark"> <div id="vector-toc-pinned-container" class="vector-pinned-container"> <div id="vector-toc" class="vector-toc vector-pinnable-element"> <div class="vector-pinnable-header vector-toc-pinnable-header vector-pinnable-header-pinned" data-feature-name="toc-pinned" data-pinnable-element-id="vector-toc" > <h2 class="vector-pinnable-header-label">Contents</h2> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-toc.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-toc.unpin">hide</button> </div> <ul class="vector-toc-contents" id="mw-panel-toc-list"> <li id="toc-mw-content-text" class="vector-toc-list-item vector-toc-level-1"> <a href="#" class="vector-toc-link"> <div class="vector-toc-text">(Top)</div> </a> </li> <li id="toc-History_of_internal_auditing" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#History_of_internal_auditing"> <div class="vector-toc-text"> <span class="vector-toc-numb">1</span> <span>History of internal auditing</span> </div> </a> <ul id="toc-History_of_internal_auditing-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Organizational_independence" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Organizational_independence"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Organizational independence</span> </div> </a> <ul id="toc-Organizational_independence-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Role_in_internal_control" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Role_in_internal_control"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Role in internal control</span> </div> </a> <ul id="toc-Role_in_internal_control-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Role_in_risk_management" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Role_in_risk_management"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Role in risk management</span> </div> </a> <ul id="toc-Role_in_risk_management-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Role_in_corporate_governance" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Role_in_corporate_governance"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Role in corporate governance</span> </div> </a> <ul id="toc-Role_in_corporate_governance-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Audit_project_selection_or_"annual_audit_plan"" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Audit_project_selection_or_"annual_audit_plan""> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Audit project selection or "annual audit plan"</span> </div> </a> <ul id="toc-Audit_project_selection_or_"annual_audit_plan"-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Internal_audit_execution" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Internal_audit_execution"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Internal audit execution</span> </div> </a> <ul id="toc-Internal_audit_execution-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Internal_audit_reports" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Internal_audit_reports"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Internal audit reports</span> </div> </a> <button aria-controls="toc-Internal_audit_reports-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Internal audit reports subsection</span> </button> <ul id="toc-Internal_audit_reports-sublist" class="vector-toc-list"> <li id="toc-Quality_of_internal_audit_report" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Quality_of_internal_audit_report"> <div class="vector-toc-text"> <span class="vector-toc-numb">8.1</span> <span>Quality of internal audit report</span> </div> </a> <ul id="toc-Quality_of_internal_audit_report-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Strategy" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Strategy"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>Strategy</span> </div> </a> <ul id="toc-Strategy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Other_topics" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Other_topics"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>Other topics</span> </div> </a> <button aria-controls="toc-Other_topics-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Other topics subsection</span> </button> <ul id="toc-Other_topics-sublist" class="vector-toc-list"> <li id="toc-Measuring_the_internal_audit_function" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Measuring_the_internal_audit_function"> <div class="vector-toc-text"> <span class="vector-toc-numb">10.1</span> <span>Measuring the internal audit function</span> </div> </a> <ul id="toc-Measuring_the_internal_audit_function-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Reporting_of_critical_findings" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Reporting_of_critical_findings"> <div class="vector-toc-text"> <span class="vector-toc-numb">10.2</span> <span>Reporting of critical findings</span> </div> </a> <ul id="toc-Reporting_of_critical_findings-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Audit_philosophy" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Audit_philosophy"> <div class="vector-toc-text"> <span class="vector-toc-numb">10.3</span> <span>Audit philosophy</span> </div> </a> <ul id="toc-Audit_philosophy-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Three_lines_of_defence" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Three_lines_of_defence"> <div class="vector-toc-text"> <span class="vector-toc-numb">10.4</span> <span>Three lines of defence</span> </div> </a> <ul id="toc-Three_lines_of_defence-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Disruptive_innovation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Disruptive_innovation"> <div class="vector-toc-text"> <span class="vector-toc-numb">10.5</span> <span>Disruptive innovation</span> </div> </a> <ul id="toc-Disruptive_innovation-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">12</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Internal audit</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 33 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-33" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">33 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%AA%D8%AF%D9%82%D9%8A%D9%82_%D8%AF%D8%A7%D8%AE%D9%84%D9%8A" title="تدقيق داخلي – Arabic" lang="ar" hreflang="ar" data-title="تدقيق داخلي" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Daxili_audit" title="Daxili audit – Azerbaijani" lang="az" hreflang="az" data-title="Daxili audit" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%92%D1%8A%D1%82%D1%80%D0%B5%D1%88%D0%B5%D0%BD_%D0%BE%D0%B4%D0%B8%D1%82" title="Вътрешен одит – Bulgarian" lang="bg" hreflang="bg" data-title="Вътрешен одит" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Intern%C3%AD_audit" title="Interní audit – Czech" lang="cs" hreflang="cs" data-title="Interní audit" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Interne_Revision" title="Interne Revision – German" lang="de" hreflang="de" data-title="Interne Revision" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Siseaudit" title="Siseaudit – Estonian" lang="et" hreflang="et" data-title="Siseaudit" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%AD%D8%B3%D8%A7%D8%A8%D8%B1%D8%B3%DB%8C_%D8%AF%D8%A7%D8%AE%D9%84%DB%8C" title="حسابرسی داخلی – Persian" lang="fa" hreflang="fa" data-title="حسابرسی داخلی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Audit_interne" title="Audit interne – French" lang="fr" hreflang="fr" data-title="Audit interne" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EB%82%B4%EB%B6%80%EA%B0%90%EC%82%AC" title="내부감사 – Korean" lang="ko" hreflang="ko" data-title="내부감사" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%86%D5%A5%D6%80%D6%84%D5%AB%D5%B6_%D5%A1%D5%B8%D6%82%D5%A4%D5%AB%D5%BF" title="Ներքին աուդիտ – Armenian" lang="hy" hreflang="hy" data-title="Ներքին աուդիտ" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%86%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A4%BF%E0%A4%95_%E0%A4%B2%E0%A5%87%E0%A4%96%E0%A4%BE%E0%A4%AA%E0%A4%B0%E0%A5%80%E0%A4%95%E0%A5%8D%E0%A4%B7%E0%A4%BE" title="आन्तरिक लेखापरीक्षा – Hindi" lang="hi" hreflang="hi" data-title="आन्तरिक लेखापरीक्षा" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Audit_internal" title="Audit internal – Indonesian" lang="id" hreflang="id" data-title="Audit internal" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Audit_interno" title="Audit interno – Italian" lang="it" hreflang="it" data-title="Audit interno" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%91%D7%99%D7%A7%D7%95%D7%A8%D7%AA_%D7%A4%D7%A0%D7%99%D7%9E%D7%99%D7%AA" title="ביקורת פנימית – Hebrew" lang="he" hreflang="he" data-title="ביקורת פנימית" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-kn mw-list-item"><a href="https://kn.wikipedia.org/wiki/%E0%B2%86%E0%B2%82%E0%B2%A4%E0%B2%B0%E0%B2%BF%E0%B2%95_%E0%B2%B2%E0%B3%86%E0%B2%95%E0%B3%8D%E0%B2%95_%E0%B2%AA%E0%B2%B0%E0%B2%BF%E0%B2%B6%E0%B3%8B%E0%B2%A7%E0%B2%A8%E0%B3%86" title="ಆಂತರಿಕ ಲೆಕ್ಕ ಪರಿಶೋಧನೆ – Kannada" lang="kn" hreflang="kn" data-title="ಆಂತರಿಕ ಲೆಕ್ಕ ಪರಿಶೋಧನೆ" data-language-autonym="ಕನ್ನಡ" data-language-local-name="Kannada" class="interlanguage-link-target"><span>ಕನ್ನಡ</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%A8%E1%83%98%E1%83%93%E1%83%90_%E1%83%90%E1%83%A3%E1%83%93%E1%83%98%E1%83%A2%E1%83%98" title="შიდა აუდიტი – Georgian" lang="ka" hreflang="ka" data-title="შიდა აუდიტი" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Vidaus_auditas" title="Vidaus auditas – Lithuanian" lang="lt" hreflang="lt" data-title="Vidaus auditas" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/Bels%C5%91_ellen%C5%91rz%C3%A9s" title="Belső ellenőrzés – Hungarian" lang="hu" hreflang="hu" data-title="Belső ellenőrzés" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mai mw-list-item"><a href="https://mai.wikipedia.org/wiki/%E0%A4%86%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A4%BF%E0%A4%95_%E0%A4%B2%E0%A5%87%E0%A4%96%E0%A4%BE%E0%A4%AA%E0%A4%B0%E0%A5%80%E0%A4%95%E0%A5%8D%E0%A4%B7%E0%A4%A3" title="आन्तरिक लेखापरीक्षण – Maithili" lang="mai" hreflang="mai" data-title="आन्तरिक लेखापरीक्षण" data-language-autonym="मैथिली" data-language-local-name="Maithili" class="interlanguage-link-target"><span>मैथिली</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Interne_audit" title="Interne audit – Dutch" lang="nl" hreflang="nl" data-title="Interne audit" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ne mw-list-item"><a href="https://ne.wikipedia.org/wiki/%E0%A4%86%E0%A4%A8%E0%A5%8D%E0%A4%A4%E0%A4%B0%E0%A4%BF%E0%A4%95_%E0%A4%B2%E0%A5%87%E0%A4%96%E0%A4%BE%E0%A4%AA%E0%A4%B0%E0%A5%80%E0%A4%95%E0%A5%8D%E0%A4%B7%E0%A4%A3" title="आन्तरिक लेखापरीक्षण – Nepali" lang="ne" hreflang="ne" data-title="आन्तरिक लेखापरीक्षण" data-language-autonym="नेपाली" data-language-local-name="Nepali" class="interlanguage-link-target"><span>नेपाली</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E5%86%85%E9%83%A8%E7%9B%A3%E6%9F%BB" title="内部監査 – Japanese" lang="ja" hreflang="ja" data-title="内部監査" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Internrevisjon" title="Internrevisjon – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Internrevisjon" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Audyt_wewn%C4%99trzny" title="Audyt wewnętrzny – Polish" lang="pl" hreflang="pl" data-title="Audyt wewnętrzny" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Auditoria_interna" title="Auditoria interna – Portuguese" lang="pt" hreflang="pt" data-title="Auditoria interna" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Audit_intern" title="Audit intern – Romanian" lang="ro" hreflang="ro" data-title="Audit intern" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%92%D0%BD%D1%83%D1%82%D1%80%D0%B5%D0%BD%D0%BD%D0%B8%D0%B9_%D0%B0%D1%83%D0%B4%D0%B8%D1%82" title="Внутренний аудит – Russian" lang="ru" hreflang="ru" data-title="Внутренний аудит" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-su mw-list-item"><a href="https://su.wikipedia.org/wiki/Audit_internal" title="Audit internal – Sundanese" lang="su" hreflang="su" data-title="Audit internal" data-language-autonym="Sunda" data-language-local-name="Sundanese" class="interlanguage-link-target"><span>Sunda</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Sis%C3%A4inen_tarkastus" title="Sisäinen tarkastus – Finnish" lang="fi" hreflang="fi" data-title="Sisäinen tarkastus" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Internrevision" title="Internrevision – Swedish" lang="sv" hreflang="sv" data-title="Internrevision" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-ta mw-list-item"><a href="https://ta.wikipedia.org/wiki/%E0%AE%85%E0%AE%95%E0%AE%A4%E0%AF%8D%E0%AE%A4%E0%AE%A3%E0%AE%BF%E0%AE%95%E0%AF%8D%E0%AE%95%E0%AF%88" title="அகத்தணிக்கை – Tamil" lang="ta" hreflang="ta" data-title="அகத்தணிக்கை" data-language-autonym="தமிழ்" data-language-local-name="Tamil" class="interlanguage-link-target"><span>தமிழ்</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/%C4%B0%C3%A7_denetim" title="İç denetim – Turkish" lang="tr" hreflang="tr" data-title="İç denetim" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%86%85%E9%83%A8%E5%AE%A1%E8%AE%A1" title="内部审计 – Chinese" lang="zh" hreflang="zh" data-title="内部审计" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q6452684#sitelinks-wikipedia" title="Edit interlanguage links" class="wbc-editpage">Edit links</a></span></div> </div> </div> </div> </header> <div class="vector-page-toolbar"> <div class="vector-page-toolbar-container"> <div id="left-navigation"> <nav aria-label="Namespaces"> <div id="p-associated-pages" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-associated-pages" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-nstab-main" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Internal_audit" title="View the content page [c]" accesskey="c"><span>Article</span></a></li><li id="ca-talk" class="vector-tab-noicon mw-list-item"><a href="/wiki/Talk:Internal_audit" rel="discussion" title="Discuss improvements to the content page [t]" accesskey="t"><span>Talk</span></a></li> </ul> </div> </div> <div id="vector-variants-dropdown" class="vector-dropdown emptyPortlet" > <input type="checkbox" id="vector-variants-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-variants-dropdown" class="vector-dropdown-checkbox " aria-label="Change language variant" > <label id="vector-variants-dropdown-label" for="vector-variants-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet" aria-hidden="true" ><span class="vector-dropdown-label-text">English</span> </label> <div class="vector-dropdown-content"> <div id="p-variants" class="vector-menu mw-portlet mw-portlet-variants emptyPortlet" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> </ul> </div> </div> </div> </div> </nav> </div> <div id="right-navigation" class="vector-collapsible"> <nav aria-label="Views"> <div id="p-views" class="vector-menu vector-menu-tabs mw-portlet mw-portlet-views" > <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-view" class="selected vector-tab-noicon mw-list-item"><a href="/wiki/Internal_audit"><span>Read</span></a></li><li id="ca-edit" class="vector-tab-noicon mw-list-item"><a href="/w/index.php?title=Internal_audit&action=edit" title="Edit this page [e]" accesskey="e"><span>Edit</span></a></li><li id="ca-history" class="vector-tab-noicon mw-list-item"><a href="/w/index.php?title=Internal_audit&action=history" title="Past revisions of this page [h]" accesskey="h"><span>View history</span></a></li> </ul> </div> </div> </nav> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-dropdown" class="vector-dropdown vector-page-tools-dropdown" > <input type="checkbox" id="vector-page-tools-dropdown-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-tools-dropdown" class="vector-dropdown-checkbox " aria-label="Tools" > <label id="vector-page-tools-dropdown-label" for="vector-page-tools-dropdown-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet" aria-hidden="true" ><span class="vector-dropdown-label-text">Tools</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-tools-unpinned-container" class="vector-unpinned-container"> <div id="vector-page-tools" class="vector-page-tools vector-pinnable-element"> <div class="vector-pinnable-header vector-page-tools-pinnable-header vector-pinnable-header-unpinned" data-feature-name="page-tools-pinned" data-pinnable-element-id="vector-page-tools" data-pinned-container-id="vector-page-tools-pinned-container" data-unpinned-container-id="vector-page-tools-unpinned-container" > <div class="vector-pinnable-header-label">Tools</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-page-tools.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-page-tools.unpin">hide</button> </div> <div id="p-cactions" class="vector-menu mw-portlet mw-portlet-cactions emptyPortlet vector-has-collapsible-items" title="More options" > <div class="vector-menu-heading"> Actions </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="ca-more-view" class="selected vector-more-collapsible-item mw-list-item"><a href="/wiki/Internal_audit"><span>Read</span></a></li><li id="ca-more-edit" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Internal_audit&action=edit" title="Edit this page [e]" accesskey="e"><span>Edit</span></a></li><li id="ca-more-history" class="vector-more-collapsible-item mw-list-item"><a href="/w/index.php?title=Internal_audit&action=history"><span>View history</span></a></li> </ul> </div> </div> <div id="p-tb" class="vector-menu mw-portlet mw-portlet-tb" > <div class="vector-menu-heading"> General </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="t-whatlinkshere" class="mw-list-item"><a href="/wiki/Special:WhatLinksHere/Internal_audit" title="List of all English Wikipedia pages containing links to this page [j]" accesskey="j"><span>What links here</span></a></li><li id="t-recentchangeslinked" class="mw-list-item"><a href="/wiki/Special:RecentChangesLinked/Internal_audit" rel="nofollow" title="Recent changes in pages linked from this page [k]" accesskey="k"><span>Related changes</span></a></li><li id="t-upload" class="mw-list-item"><a href="/wiki/Wikipedia:File_Upload_Wizard" title="Upload files [u]" accesskey="u"><span>Upload file</span></a></li><li id="t-specialpages" class="mw-list-item"><a href="/wiki/Special:SpecialPages" title="A list of all special pages [q]" accesskey="q"><span>Special pages</span></a></li><li id="t-permalink" class="mw-list-item"><a href="/w/index.php?title=Internal_audit&oldid=1258709985" title="Permanent link to this revision of this page"><span>Permanent link</span></a></li><li id="t-info" class="mw-list-item"><a href="/w/index.php?title=Internal_audit&action=info" title="More information about this page"><span>Page information</span></a></li><li id="t-cite" class="mw-list-item"><a href="/w/index.php?title=Special:CiteThisPage&page=Internal_audit&id=1258709985&wpFormIdentifier=titleform" title="Information on how to cite this page"><span>Cite this page</span></a></li><li id="t-urlshortener" class="mw-list-item"><a href="/w/index.php?title=Special:UrlShortener&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FInternal_audit"><span>Get shortened URL</span></a></li><li id="t-urlshortener-qrcode" class="mw-list-item"><a href="/w/index.php?title=Special:QrCode&url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2FInternal_audit"><span>Download QR code</span></a></li> </ul> </div> </div> <div id="p-coll-print_export" class="vector-menu mw-portlet mw-portlet-coll-print_export" > <div class="vector-menu-heading"> Print/export </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="coll-download-as-rl" class="mw-list-item"><a href="/w/index.php?title=Special:DownloadAsPdf&page=Internal_audit&action=show-download-screen" title="Download this page as a PDF file"><span>Download as PDF</span></a></li><li id="t-print" class="mw-list-item"><a href="/w/index.php?title=Internal_audit&printable=yes" title="Printable version of this page [p]" accesskey="p"><span>Printable version</span></a></li> </ul> </div> </div> <div id="p-wikibase-otherprojects" class="vector-menu mw-portlet mw-portlet-wikibase-otherprojects" > <div class="vector-menu-heading"> In other projects </div> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li id="t-wikibase" class="wb-otherproject-link wb-otherproject-wikibase-dataitem mw-list-item"><a href="https://www.wikidata.org/wiki/Special:EntityPage/Q6452684" title="Structured data on this page hosted by Wikidata [g]" accesskey="g"><span>Wikidata item</span></a></li> </ul> </div> </div> </div> </div> </div> </div> </nav> </div> </div> </div> <div class="vector-column-end"> <div class="vector-sticky-pinned-container"> <nav class="vector-page-tools-landmark" aria-label="Page tools"> <div id="vector-page-tools-pinned-container" class="vector-pinned-container"> </div> </nav> <nav class="vector-appearance-landmark" aria-label="Appearance"> <div id="vector-appearance-pinned-container" class="vector-pinned-container"> <div id="vector-appearance" class="vector-appearance vector-pinnable-element"> <div class="vector-pinnable-header vector-appearance-pinnable-header vector-pinnable-header-pinned" data-feature-name="appearance-pinned" data-pinnable-element-id="vector-appearance" data-pinned-container-id="vector-appearance-pinned-container" data-unpinned-container-id="vector-appearance-unpinned-container" > <div class="vector-pinnable-header-label">Appearance</div> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-pin-button" data-event-name="pinnable-header.vector-appearance.pin">move to sidebar</button> <button class="vector-pinnable-header-toggle-button vector-pinnable-header-unpin-button" data-event-name="pinnable-header.vector-appearance.unpin">hide</button> </div> </div> </div> </nav> </div> </div> <div id="bodyContent" class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Independent, objective assurance and consulting activity</div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist li{margin:0;display:inline}.mw-parser-output .hlist.inline,.mw-parser-output .hlist.inline dl,.mw-parser-output .hlist.inline ol,.mw-parser-output .hlist.inline ul,.mw-parser-output .hlist dl dl,.mw-parser-output .hlist dl ol,.mw-parser-output .hlist dl ul,.mw-parser-output .hlist ol dl,.mw-parser-output .hlist ol ol,.mw-parser-output .hlist ol ul,.mw-parser-output .hlist ul dl,.mw-parser-output .hlist ul ol,.mw-parser-output .hlist ul ul{display:inline}.mw-parser-output .hlist .mw-empty-li{display:none}.mw-parser-output .hlist dt::after{content:": "}.mw-parser-output .hlist dd::after,.mw-parser-output .hlist li::after{content:" · ";font-weight:bold}.mw-parser-output .hlist dd:last-child::after,.mw-parser-output .hlist dt:last-child::after,.mw-parser-output .hlist li:last-child::after{content:none}.mw-parser-output .hlist dd dd:first-child::before,.mw-parser-output .hlist dd dt:first-child::before,.mw-parser-output .hlist dd li:first-child::before,.mw-parser-output .hlist dt dd:first-child::before,.mw-parser-output .hlist dt dt:first-child::before,.mw-parser-output .hlist dt li:first-child::before,.mw-parser-output .hlist li dd:first-child::before,.mw-parser-output .hlist li dt:first-child::before,.mw-parser-output .hlist li li:first-child::before{content:" (";font-weight:normal}.mw-parser-output .hlist dd dd:last-child::after,.mw-parser-output .hlist dd dt:last-child::after,.mw-parser-output .hlist dd li:last-child::after,.mw-parser-output .hlist dt dd:last-child::after,.mw-parser-output .hlist dt dt:last-child::after,.mw-parser-output .hlist dt li:last-child::after,.mw-parser-output .hlist li dd:last-child::after,.mw-parser-output .hlist li dt:last-child::after,.mw-parser-output .hlist li li:last-child::after{content:")";font-weight:normal}.mw-parser-output .hlist ol{counter-reset:listitem}.mw-parser-output .hlist ol>li{counter-increment:listitem}.mw-parser-output .hlist ol>li::before{content:" "counter(listitem)"\a0 "}.mw-parser-output .hlist dd ol>li:first-child::before,.mw-parser-output .hlist dt ol>li:first-child::before,.mw-parser-output .hlist li ol>li:first-child::before{content:" ("counter(listitem)"\a0 "}</style><style data-mw-deduplicate="TemplateStyles:r1246091330">.mw-parser-output .sidebar{width:22em;float:right;clear:right;margin:0.5em 0 1em 1em;background:var(--background-color-neutral-subtle,#f8f9fa);border:1px solid var(--border-color-base,#a2a9b1);padding:0.2em;text-align:center;line-height:1.4em;font-size:88%;border-collapse:collapse;display:table}body.skin-minerva .mw-parser-output .sidebar{display:table!important;float:right!important;margin:0.5em 0 1em 1em!important}.mw-parser-output .sidebar-subgroup{width:100%;margin:0;border-spacing:0}.mw-parser-output .sidebar-left{float:left;clear:left;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-none{float:none;clear:both;margin:0.5em 1em 1em 0}.mw-parser-output .sidebar-outer-title{padding:0 0.4em 0.2em;font-size:125%;line-height:1.2em;font-weight:bold}.mw-parser-output .sidebar-top-image{padding:0.4em}.mw-parser-output .sidebar-top-caption,.mw-parser-output .sidebar-pretitle-with-top-image,.mw-parser-output .sidebar-caption{padding:0.2em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-pretitle{padding:0.4em 0.4em 0;line-height:1.2em}.mw-parser-output .sidebar-title,.mw-parser-output .sidebar-title-with-pretitle{padding:0.2em 0.8em;font-size:145%;line-height:1.2em}.mw-parser-output .sidebar-title-with-pretitle{padding:0.1em 0.4em}.mw-parser-output .sidebar-image{padding:0.2em 0.4em 0.4em}.mw-parser-output .sidebar-heading{padding:0.1em 0.4em}.mw-parser-output .sidebar-content{padding:0 0.5em 0.4em}.mw-parser-output .sidebar-content-with-subgroup{padding:0.1em 0.4em 0.2em}.mw-parser-output .sidebar-above,.mw-parser-output .sidebar-below{padding:0.3em 0.8em;font-weight:bold}.mw-parser-output .sidebar-collapse .sidebar-above,.mw-parser-output .sidebar-collapse .sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:640px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1099073579">.mw-parser-output .accounting .sidebar-list-title{border-top:1px solid #aaa;text-align:center}.mw-parser-output .accounting .noborder .sidebar-list-title{border-top:none}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><table class="sidebar sidebar-collapse nomobile nowraplinks accounting"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Accounting" title="Category:Accounting">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle"><a href="/wiki/Accounting" title="Accounting">Accounting</a></th></tr><tr><td class="sidebar-image"><span class="notpageimage" typeof="mw:File"><a href="/wiki/File:Ledger.png" class="mw-file-description" title="Early 19th-century German ledger"><img alt="Early 19th-century German ledger" src="//upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Ledger.png/200px-Ledger.png" decoding="async" width="200" height="105" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Ledger.png/300px-Ledger.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/e6/Ledger.png/400px-Ledger.png 2x" data-file-width="1706" data-file-height="896" /></a></span></td></tr><tr><td class="sidebar-above"> <div class="hlist"><ul><li><a href="/wiki/Historical_cost" title="Historical cost">Historical cost</a></li><li><a href="/wiki/Constant_purchasing_power_accounting" title="Constant purchasing power accounting">Constant purchasing power</a></li><li><a href="/wiki/Management_accounting" title="Management accounting">Management</a></li><li><a href="/wiki/Tax_accounting_in_the_United_States" title="Tax accounting in the United States">Tax</a></li></ul></div></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed noborder"><div class="sidebar-list-title" style="color: var(--color-base)">Major types</div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Audit" title="Audit">Audit</a></li><li><a href="/wiki/Budget" title="Budget">Budget</a></li><li><a href="/wiki/Cost_accounting" title="Cost accounting">Cost</a></li><li><a href="/wiki/Forensic_accounting" title="Forensic accounting">Forensic</a></li><li><a href="/wiki/Financial_accounting" title="Financial accounting">Financial</a></li><li><a href="/wiki/Fund_accounting" title="Fund accounting">Fund</a></li><li><a href="/wiki/Governmental_accounting" title="Governmental accounting">Governmental</a></li><li><a href="/wiki/Management_accounting" title="Management accounting">Management</a></li><li><a href="/wiki/Social_accounting" title="Social accounting">Social</a></li><li><a href="/wiki/Tax_accounting" class="mw-redirect" title="Tax accounting">Tax</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Key concepts</div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Accounting_period" title="Accounting period">Accounting period</a></li><li><a href="/wiki/Accrual" title="Accrual">Accrual</a></li><li><a href="/wiki/Constant_purchasing_power_accounting" title="Constant purchasing power accounting">Constant purchasing power</a></li><li><a href="/wiki/Economic_entity" title="Economic entity">Economic entity</a></li><li><a href="/wiki/Fair_value" title="Fair value">Fair value</a></li><li><a href="/wiki/Going_concern" title="Going concern">Going concern</a></li><li><a href="/wiki/Historical_cost" title="Historical cost">Historical cost</a></li><li><a href="/wiki/Matching_principle" title="Matching principle">Matching principle</a></li><li><a href="/wiki/Materiality_(auditing)" title="Materiality (auditing)">Materiality</a></li><li><a href="/wiki/Revenue_recognition" title="Revenue recognition">Revenue recognition</a></li><li><a href="/wiki/Unit_of_account" title="Unit of account">Unit of account</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Selected accounts</div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Asset" title="Asset">Assets</a></li><li><a href="/wiki/Cash" title="Cash">Cash</a></li><li><a href="/wiki/Cost_of_goods_sold" title="Cost of goods sold">Cost of goods sold</a></li><li><a href="/wiki/Depreciation" title="Depreciation">Depreciation</a> / <a href="/wiki/Amortization_(business)" class="mw-redirect" title="Amortization (business)">Amortization (business)</a></li><li><a href="/wiki/Equity_(finance)" title="Equity (finance)">Equity</a></li><li><a href="/wiki/Expense" title="Expense">Expenses</a></li><li><a href="/wiki/Goodwill_(accounting)" title="Goodwill (accounting)">Goodwill</a></li><li><a href="/wiki/Liability_(financial_accounting)" title="Liability (financial accounting)">Liabilities</a></li><li><a href="/wiki/Profit_(accounting)" title="Profit (accounting)">Profit</a></li><li><a href="/wiki/Revenue" title="Revenue">Revenue</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)"><a href="/wiki/Accounting_standard" title="Accounting standard">Accounting standards</a></div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Generally_accepted_accounting_principles" class="mw-redirect" title="Generally accepted accounting principles">Generally-accepted principles</a></li><li><a href="/wiki/Generally_accepted_auditing_standards" class="mw-redirect" title="Generally accepted auditing standards">Generally-accepted auditing standards</a></li><li><a href="/wiki/Convergence_of_accounting_standards" title="Convergence of accounting standards">Convergence</a></li><li><a href="/wiki/International_Financial_Reporting_Standards" title="International Financial Reporting Standards">International Financial Reporting Standards</a></li><li><a href="/wiki/International_Standards_on_Auditing" title="International Standards on Auditing">International Standards on Auditing</a></li><li><a href="/wiki/Management_Accounting_Principles" class="mw-redirect" title="Management Accounting Principles">Management Accounting Principles</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)"><a href="/wiki/Financial_statement" title="Financial statement">Financial statements</a></div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Annual_report" title="Annual report">Annual report</a></li><li><a href="/wiki/Balance_sheet" title="Balance sheet">Balance sheet</a></li><li><a href="/wiki/Cash_flow_statement" title="Cash flow statement">Cash-flow</a></li><li><a href="/wiki/Statement_of_changes_in_equity" title="Statement of changes in equity">Equity</a></li><li><a href="/wiki/Income_statement" title="Income statement">Income</a></li><li><a href="/wiki/Management_discussion_and_analysis" class="mw-redirect" title="Management discussion and analysis">Management discussion</a></li><li><a href="/wiki/Notes_to_the_financial_statements" class="mw-redirect" title="Notes to the financial statements">Notes to the financial statements</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)"><a href="/wiki/Bookkeeping" title="Bookkeeping">Bookkeeping</a></div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Bank_reconciliation" title="Bank reconciliation">Bank reconciliation</a></li><li><a href="/wiki/Debits_and_credits" title="Debits and credits">Debits and credits</a></li><li><a href="/wiki/Double-entry_bookkeeping_system" class="mw-redirect" title="Double-entry bookkeeping system">Double-entry system</a></li><li><a href="/wiki/FIFO_and_LIFO_accounting" title="FIFO and LIFO accounting">FIFO and LIFO</a></li><li><a href="/wiki/General_journal" title="General journal">Journal</a></li><li><a href="/wiki/Ledger" title="Ledger">Ledger</a> / <a href="/wiki/General_ledger" title="General ledger">General ledger</a></li><li><a href="/wiki/Trial_balance" title="Trial balance">Trial balance</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)"><a href="/wiki/Audit" title="Audit">Auditing</a></div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Financial_audit" title="Financial audit">Financial</a></li><li><a class="mw-selflink selflink">Internal</a></li><li><a href="/wiki/Accounting_networks_and_associations" class="mw-redirect" title="Accounting networks and associations">Firms</a></li><li><a href="/wiki/Auditor%27s_report" title="Auditor's report">Report</a></li><li><a href="/wiki/Sarbanes%E2%80%93Oxley_Act" title="Sarbanes–Oxley Act">Sarbanes–Oxley Act</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">People and organizations</div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Accountant" title="Accountant">Accountants</a></li><li><a href="/wiki/Category:Accounting_organizations" title="Category:Accounting organizations">Accounting organizations</a></li><li><a href="/wiki/Luca_Pacioli" title="Luca Pacioli">Luca Pacioli</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Development</div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/History_of_accounting" title="History of accounting">History</a></li><li><a href="/wiki/Accounting_research" title="Accounting research">Research</a></li><li><a href="/wiki/Positive_accounting" title="Positive accounting">Positive accounting</a></li><li><a href="/wiki/Sarbanes%E2%80%93Oxley_Act" title="Sarbanes–Oxley Act">Sarbanes–Oxley Act</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="color: var(--color-base)">Misconduct</div><div class="sidebar-list-content mw-collapsible-content"><div class="hlist"><ul><li><a href="/wiki/Creative_accounting" title="Creative accounting">Creative</a></li><li><a href="/wiki/Earnings_management" title="Earnings management">Earnings management</a></li><li><a href="/wiki/Error_account" title="Error account">Error account</a></li><li><a href="/wiki/Hollywood_accounting" title="Hollywood accounting">Hollywood</a></li><li><a href="/wiki/Off-balance-sheet" title="Off-balance-sheet">Off-balance-sheet</a></li><li><a href="/wiki/Two_sets_of_books" title="Two sets of books">Two sets of books</a></li></ul></div></div></div></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Accounting" title="Template:Accounting"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Accounting" title="Template talk:Accounting"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Accounting" title="Special:EditPage/Template:Accounting"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Internal auditing</b> is an independent, objective <a href="/wiki/Assurance_services" title="Assurance services">assurance</a> and <a href="/wiki/Consultant" title="Consultant">consulting</a> 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 <a href="/wiki/Effectiveness" title="Effectiveness">effectiveness</a> of <a href="/wiki/Enterprise_risk_management" title="Enterprise risk management">risk management</a>, <a href="/wiki/Internal_control" title="Internal control">control</a> and <a href="/wiki/Corporate_governance" title="Corporate governance">governance</a> processes.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> Internal auditing might achieve this goal by providing insight and recommendations based on analyses and assessments of data and business <a href="/wiki/Business_process" title="Business process">processes</a>.<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> With commitment to <a href="/wiki/Integrity" title="Integrity">integrity</a> and <a href="/wiki/Accountability" title="Accountability">accountability</a>, internal auditing provides value to <a href="/wiki/Board_of_directors" title="Board of directors">governing bodies</a> and <a href="/wiki/Senior_management" title="Senior management">senior management</a> as an objective source of independent advice. Professionals called internal <a href="/wiki/Auditor" title="Auditor">auditors</a> are employed by organizations to perform the internal auditing activity. </p><p>The scope of internal auditing within an organization may be broad and may involve topics such as an organization's governance, risk management and management controls over: efficiency/effectiveness of operations (including safeguarding of assets), the reliability of financial and management reporting,<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/Regulatory_compliance" title="Regulatory compliance">compliance</a> with laws and regulations. Internal auditing may also involve conducting proactive fraud audits to identify potentially fraudulent acts; participating in fraud investigations under the direction of fraud investigation professionals, and conducting post investigation fraud audits to identify control breakdowns and establish financial loss. </p><p>Internal auditors are not responsible for the execution of company activities; they advise management and the <a href="/wiki/Board_of_directors" title="Board of directors">board of directors</a> (or similar <a href="/wiki/Regulation" title="Regulation">oversight</a> body) regarding how to better execute their <a href="/wiki/Professional_responsibility" title="Professional responsibility">responsibilities</a>. As a result of their broad scope of involvement, internal auditors may have a variety of higher educational and professional backgrounds. </p><p>The <a href="/wiki/Institute_of_Internal_Auditors" title="Institute of Internal Auditors">Institute of Internal Auditors</a> (IIA) is the recognized international standard setting body for the internal audit profession and awards the Certified Internal Auditor designation internationally through rigorous written examination. Other designations are available in certain countries.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> In the United States the professional standards of the Institute of Internal Auditors have been codified in several states' statutes pertaining to the practice of internal auditing in government (New York State, Texas, and Florida being three examples). There are also a number of other international standard setting bodies. </p><p>Internal auditors work for government agencies (federal, state and local); for publicly traded companies; and for non-profit companies across all industries. Internal auditing departments are led by a <a href="/wiki/Chief_audit_executive" title="Chief audit executive">chief audit executive</a> (CAE) who generally reports to the <a href="/wiki/Audit_committee" title="Audit committee">audit committee</a> of the <a href="/wiki/Board_of_directors" title="Board of directors">board of directors</a>, with administrative reporting to the <a href="/wiki/Chief_executive_officer" title="Chief executive officer">chief executive officer</a> (In the United States this reporting relationship is required by law for publicly traded companies). </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="History_of_internal_auditing">History of internal auditing</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=1" title="Edit section: History of internal auditing"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The internal auditing profession evolved steadily with the progress of <a href="/wiki/Management_science" title="Management science">management science</a> after World War II. It is conceptually similar in many ways to <a href="/wiki/Financial_audit" title="Financial audit">financial auditing</a> by <a href="/wiki/Public_accounting" class="mw-redirect" title="Public accounting">public accounting</a> firms, <a href="/wiki/Quality_assurance" title="Quality assurance">quality assurance</a> and banking compliance activities. While some of the audit technique underlying internal auditing is derived from <a href="/wiki/Management_consulting" title="Management consulting">management consulting</a> and public accounting professions, the theory of internal auditing was conceived primarily by Lawrence Sawyer (1911–2002), often referred to as "the father of modern internal auditing";<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> and the current philosophy, theory and practice of modern internal auditing as defined by the International Professional Practices Framework (IPPF) of the Institute of Internal Auditors owes much to Sawyer's vision. </p><p>With the implementation in the <b>United States</b> of the <i><a href="/wiki/Sarbanes%E2%80%93Oxley_Act" title="Sarbanes–Oxley Act">Sarbanes–Oxley Act</a></i> of 2002, the profession's exposure and value was enhanced, as many internal auditors possessed the skills required to help companies meet the requirements of the law <sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (May 2021)">citation needed</span></a></i>]</sup>. However, the focus by internal audit departments of publicly traded companies on SOX related financial policy and procedures derailed progress made by the profession in the late 20th century toward Larry Sawyer's vision for internal audit. Beginning in about 2010, the IIA once again began advocating for the broader role internal auditing should play in the corporate arena, in keeping with the IPPF's philosophy.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Organizational_independence">Organizational independence</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=2" title="Edit section: Organizational independence"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>While internal auditors are hired directly by their company, they can achieve independence through their reporting relationships. Independence and objectivity are a cornerstone of the IIA professional standards; and are discussed at length in the standards and the supporting practice guides and practice advisories. Professional internal auditors are mandated by the IIA standards to be independent of the business activities they audit. This independence and objectivity are achieved through the organizational placement and reporting lines of the internal audit department. Internal auditors of publicly traded companies in the United States are required to report functionally to the board of directors directly, or a sub-committee of the board of directors (typically the audit committee), and not to management except for administrative purposes. </p><p>The required <a href="/wiki/Chief_Audit_Executive#Organizational_independence" class="mw-redirect" title="Chief Audit Executive">organizational independence</a> from <a href="/wiki/Management" title="Management">management</a> enables unrestricted <a href="/wiki/Evaluation" title="Evaluation">evaluation</a> of management activities and personnel and allows internal <a href="/wiki/Auditors" class="mw-redirect" title="Auditors">auditors</a> to perform their role effectively. Although internal auditors are part of company management and paid by the company, the primary customer of internal <a href="/wiki/Audit" title="Audit">audit</a> activity is the entity charged with <a href="/wiki/Regulation" title="Regulation">oversight</a> of management's activities. This is typically the <a href="/wiki/Audit_committee" title="Audit committee">audit committee</a>, a committee of the <a href="/wiki/Board_of_directors" title="Board of directors">board of directors</a>. Organizational independence is effectively achieved when the chief audit executive reports functionally to the board. Examples of functional reporting to the board involve the board:<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Approving the internal audit charter; Approving the risk based internal audit plan; Approving the internal audit budget and resource plan; Receiving communications from the chief audit executive on the internal audit activity's performance relative to its plan and other matters; Approving decisions regarding the appointment and removal of the chief audit executive; Approving the remuneration of the chief audit executive; and Making appropriate inquiries of management and the chief audit executive to determine whether there are inappropriate scope or resource limitations. </p> <div class="mw-heading mw-heading2"><h2 id="Role_in_internal_control">Role in internal control</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=3" title="Edit section: Role in internal control"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Internal auditing activity is primarily directed at evaluating <a href="/wiki/Internal_control" title="Internal control">internal control</a>. Under the <a href="/wiki/Committee_of_Sponsoring_Organizations_of_the_Treadway_Commission" title="Committee of Sponsoring Organizations of the Treadway Commission">COSO</a> Internal Control Framework, internal control is broadly defined as a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of the following core objectives for which all businesses strive: </p> <ul><li>Effectiveness and efficiency of operations.</li> <li>Reliability of financial and management reporting.</li> <li>Compliance with laws and regulations.</li> <li>Safeguarding of Assets</li></ul> <p>Management is responsible for internal control, which comprises five critical components: the control environment; risk assessment; risk focused control activities; information and communication; and monitoring activities. Managers establish policies, processes, and practices in these five components of management control to help the organization achieve the four specific objectives listed above. Internal auditors perform audits to evaluate whether the five components of management control are present and operating effectively, and if not, provide recommendations for improvement. </p><p>In the United States, the internal audit function independently assesses management's system of internal control and reports its results to top management and the company's audit committee of the board of directors. </p> <div class="mw-heading mw-heading2"><h2 id="Role_in_risk_management">Role in risk management</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=4" title="Edit section: Role in risk management"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Internal auditing professional standards require the function to evaluate the effectiveness of the organization's <a href="/wiki/Risk_management" title="Risk management">Risk management</a> activities. Risk management is the process by which an organization identifies, analyses, responds, gathers information about, and monitors strategic risks that could actually or potentially impact the organization's ability to achieve its mission and objectives. </p><p>Under the <a href="/wiki/Committee_of_Sponsoring_Organizations_of_the_Treadway_Commission" title="Committee of Sponsoring Organizations of the Treadway Commission">COSO</a> <a href="/wiki/Enterprise_risk_management" title="Enterprise risk management">enterprise risk management</a> (ERM) Framework, an organization's strategy, operations, reporting, and compliance objectives all have associated strategic business risks – the negative outcomes resulting from internal and external events that inhibit the organization's ability to achieve its objectives. Management assesses risk as part of the ordinary course of business activities such as strategic planning, marketing planning, capital planning, budgeting, hedging, incentive payout structure, credit/lending practices, mergers and acquisitions, strategic partnerships, legislative changes, conducting business abroad, etc. <a href="/wiki/Sarbanes%E2%80%93Oxley" class="mw-redirect" title="Sarbanes–Oxley">Sarbanes–Oxley</a> regulations require extensive risk assessment of financial reporting processes. Corporate legal counsel often prepares comprehensive assessments of the current and potential litigation a company faces. Internal auditors may evaluate each of these activities, or focus on the overarching process used to manage risks entity-wide. For example, internal auditors can advise management regarding the reporting of forward-looking operating measures to the board, to help identify emerging risks; or internal auditors can evaluate and report on whether the board and other stakeholders can have reasonable assurance the organization's management team has implemented an effective enterprise risk management program. </p><p>In larger organizations, major strategic initiatives are implemented to achieve objectives and drive changes. As a member of senior management, the chief audit executive (CAE) may participate in status updates on these major initiatives. This places the CAE in the position to report on many of the major risks the organization faces to the audit committee, or ensure management's reporting is effective for that purpose. </p><p>The internal audit function may help the organization address its risk of <a href="/wiki/Fraud" title="Fraud">fraud</a> via a fraud risk assessment, using principles of <a href="/wiki/Fraud_deterrence" title="Fraud deterrence">fraud deterrence</a>. Internal auditors may help companies establish and maintain <a href="/wiki/Enterprise_Risk_Management" class="mw-redirect" title="Enterprise Risk Management">Enterprise Risk Management</a> processes.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> This process is highly valued by many businesses for establishing and implementing effective management systems and ensuring quality is maintained & professional standards are met<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Internal auditors also play an important role in helping companies execute a <a href="/wiki/SOX_404_top-down_risk_assessment" class="mw-redirect" title="SOX 404 top-down risk assessment">SOX 404 top-down risk assessment</a>. In these latter two areas, internal auditors typically are part of the risk assessment team in an advisory role. </p> <div class="mw-heading mw-heading2"><h2 id="Role_in_corporate_governance">Role in corporate governance</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=5" title="Edit section: Role in corporate governance"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Internal auditing activity as it relates to <a href="/wiki/Corporate_governance" title="Corporate governance">corporate governance</a> has in the past been generally informal, accomplished primarily through participation in meetings and discussions with members of the board of directors. According to COSO's ERM framework, governance is the policies, processes and structures used by the organization's leadership to direct activities, achieve objectives, and protect the interests of diverse stakeholder groups in a manner consistent with ethical standards. The internal auditor is often considered one of the "four pillars" of corporate governance, the other pillars being the board of directors, management, and the external auditor.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>A primary focus area of internal auditing as it relates to corporate governance is helping the audit committee of the board of directors (or equivalent) perform its responsibilities effectively. This may include reporting critical management control issues, suggesting questions or topics for the audit committee's meeting agendas, and coordinating with the external auditor and management to ensure the committee receives effective information. In recent years, the IIA has advocated more formal evaluation of corporate governance, particularly in the areas of board oversight of enterprise risk, <a href="/wiki/Business_ethics" title="Business ethics">corporate ethics</a>, and fraud. See also <a href="#Three_lines_of_defence">§ Three lines of defence</a> below. </p> <div class="mw-heading mw-heading2"><h2 id="Audit_project_selection_or_"annual_audit_plan""><span id="Audit_project_selection_or_.22annual_audit_plan.22"></span>Audit project selection or "annual audit plan"</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=6" title="Edit section: Audit project selection or "annual audit plan""><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Based on the <a href="/wiki/Risk_assessment" title="Risk assessment">risk assessment</a> of the organization, internal auditors, management and oversight boards determine where to focus internal auditing efforts. This focus or prioritization is part of the annual/ multi-year <a href="/w/index.php?title=Annual_audit_plan&action=edit&redlink=1" class="new" title="Annual audit plan (page does not exist)">annual audit plan</a>. The <a href="/wiki/Audit_planning" class="mw-redirect" title="Audit planning">audit plan</a> is typically proposed by the CAE (sometimes with several options or alternatives) for the review and approval of the audit committee or the board of directors. Internal auditing activity is generally conducted as one or more discrete assignments. </p><p>It should be adapted to the specific purpose of audit, and the selection of audit method must be adapted to its specific purpose. Otherwise, it will deviate from the purpose of the audit.<sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Internal_audit_execution">Internal audit execution</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=7" title="Edit section: Internal audit execution"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A typical internal audit assignment<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> involves the following steps: </p> <ol><li>Establishing and communicating the scope and objectives of the audit to appropriate members of management.</li> <li>Developing an understanding of the business area under review – this includes objectives, measurements & key transaction types and involves interviews and a review of documents – flowcharts and narratives may be created, if necessary.</li> <li>Describing the key risks facing the business activities within the scope of the audit.</li> <li>Identifying management practices in the five components of control used to ensure that each key risk is properly controlled and monitored. An internal audit checklist<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> can be a helpful tool to identify common risks and desired controls in the specific process or specific industry being audited.</li> <li>Developing and executing a risk-based sampling and testing approach to determine whether the most important management controls are operating as intended.</li> <li>Reporting issues and challenges identified and negotiating action plans with the management to address these problems.</li> <li>Following-up on reported findings at appropriate intervals. Internal audit departments maintain a follow-up database for this purpose.</li></ol> <p>Audit assignment length varies based on the complexity of the activity being audited and internal audit resources available. Many of the above steps are iterative and may not all occur in the sequence indicated. </p><p>In addition to assessing business processes, specialists called information technology (IT) auditors review <a href="/wiki/Information_technology_controls" title="Information technology controls">information technology controls</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Internal_audit_reports">Internal audit reports</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=8" title="Edit section: Internal audit reports"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Internal auditors typically issue reports at the end of each audit that summarize their findings, recommendations, and any responses or action plans from management. An audit report may have an executive summary – a body that includes the specific issues or findings identified and related recommendations or action plans, and appendix information such as detailed graphs and charts or process information. Each audit finding within the body of the report may contain five elements, sometimes called the "5 C's": </p> <ol><li>Condition: What is the particular problem identified?</li> <li>Criteria: What is the standard that was not met? The standard may be a company policy or other benchmark.</li> <li>Cause: Why did the problem occur?</li> <li>Consequence: What is the risk/negative outcome (or opportunity foregone) because of the finding?</li> <li>Corrective action: What should management do about the finding? What have they agreed to do and by when?</li></ol> <p>The recommendations in an internal audit report are designed to help the organization achieve effective and efficient governance, risk and control processes associated with operations objectives, financial and management reporting objectives; and legal/regulatory compliance objectives. </p><p>Audit findings and recommendations may also relate to particular assertions about transactions, such as whether the transactions audited were valid or authorized, completely processed, accurately valued, processed in the correct time period, and properly disclosed in financial or operational reporting, among other elements. </p><p>Following are the steps about how continuous improvement can be achieved through audit findings. </p> <ul><li>Develop CAPAs to address quality issues.</li> <li>Train users or employees to develop effective audit processes or procedures.</li> <li>Maintain steady and healthy relation with suppliers, vendors, users, auditors and audit bodies.</li></ul> <p>Under the IIA standards, a critical component of the audit process is the preparation of a balanced report that provides executives and the board with the opportunity to evaluate and weigh the issues being reported in the proper context and perspective. In providing perspective, analysis and workable recommendations for business improvements in critical areas, auditors help the organization meet its objectives. </p> <div class="mw-heading mw-heading3"><h3 id="Quality_of_internal_audit_report">Quality of internal audit report</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=9" title="Edit section: Quality of internal audit report"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Source:<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p> <ul><li><b>Objectivity – </b> The comments and opinions expressed in the report should be objective and unbiased.</li> <li><b>Clarity –</b> The language used should be simple and straightforward.</li> <li><b>Accuracy –</b> The information contained in the report should be accurate.</li> <li><b>Brevity –</b> The report should be concise.</li> <li><b>Timeliness –</b> The report should be released promptly immediately after the audit is concluded, within a month.</li></ul> <div class="mw-heading mw-heading2"><h2 id="Strategy">Strategy</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=10" title="Edit section: Strategy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Internal audit functions may also develop functional <a href="/wiki/Strategic_management" title="Strategic management">strategies</a> described in multi-year strategic plans. Professional guidance on building an Internal Audit strategic plan was issued by the <i>Institute of Internal Auditors</i> in July 2012 via a Practice Guide called <i>Developing the Internal Audit Strategic Plan</i>.<sup id="cite_ref-na.theiia.org_16-0" class="reference"><a href="#cite_note-na.theiia.org-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> A key aspect of developing IA strategy is understanding the expectations of stakeholders, such as the audit committee and top management. This helps guide the IA function in its mission of helping the organization address the risks it faces. Specific topics considered in IA strategic planning include: </p> <ul><li>Scope and emphasis: An IA function may be involved in addressing risks related to financial reporting, operations, legal and regulatory compliance, and the company strategy. There may also be special topics of interest to stakeholders that change considerably year-to-year.</li> <li>Portfolio of services: IA functions may provide traditional audit assurance across the risk spectrum as well as consulting project support in a variety of areas such as project management, data analysis, and monitoring of major company initiatives. Larger audit functions may establish specialty areas to handle their service portfolio.</li> <li>Competency development: The stakeholder expectations around scope and service portfolio determine what competencies the function needs, which drives decisions regarding hiring of specific skills and training programs. The internal audit function is often used as a "management training ground" to provide employees with a deeper knowledge of the company's operations before they are rotated into a management position.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup></li> <li>Technology: IA functions use a variety of technology tools/software to support audit process workflow, statistical analysis, and obtaining data from systems.</li></ul> <p>Building the IA strategy may involve a variety of <a href="/wiki/Strategic_management" title="Strategic management">strategic management</a> concepts and frameworks, such as <a href="/wiki/Strategic_planning" title="Strategic planning">strategic planning</a>, <a href="/wiki/Strategic_thinking" title="Strategic thinking">strategic thinking</a>, and <a href="/wiki/SWOT_analysis" title="SWOT analysis">SWOT analysis</a>.<sup id="cite_ref-na.theiia.org_16-1" class="reference"><a href="#cite_note-na.theiia.org-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Other_topics">Other topics</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=11" title="Edit section: Other topics"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Measuring_the_internal_audit_function">Measuring the internal audit function</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=12" title="Edit section: Measuring the internal audit function"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The measurement of the internal audit function can involve a <a href="/wiki/Balanced_scorecard" title="Balanced scorecard">balanced scorecard</a> approach.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> Internal audit functions are primarily evaluated based on the quality of counsel and information provided to the audit committee and top management. However, this is primarily qualitative and therefore difficult to measure. "Customer surveys" sent to key managers after each audit engagement or report can be used to measure performance, with an annual survey to the audit committee. Scoring on dimensions such as professionalism, quality of counsel, timeliness of work product, utility of meetings, and quality of status updates are typical with such surveys. Understanding the expectations of senior management and the audit committee represent important steps in developing a performance measurement process, as well as how such measures help align the audit function with organizational priorities.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> Independent peer reviews are part of the quality assurance process for many internal audit groups as they are often required by standards.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> The resulting peer review report is made available to the audit committee. </p> <div class="mw-heading mw-heading3"><h3 id="Reporting_of_critical_findings">Reporting of critical findings</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=13" title="Edit section: Reporting of critical findings"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The <a href="/wiki/Chief_audit_executive" title="Chief audit executive">chief audit executive</a> (CAE) typically reports the most critical issues to the <a href="/wiki/Audit_committee" title="Audit committee">audit committee</a> quarterly, along with management's progress towards resolving them. Critical issues typically have a reasonable likelihood of causing substantial financial or reputational damage to the company. For particularly complex issues, the responsible manager may participate in the discussion. Such reporting is critical to ensure the function is respected, that the proper "<a href="/wiki/Tone_at_the_top" title="Tone at the top">tone at the top</a>" exists in the organization, and to expedite resolution of such issues. It is a matter of considerable judgment to select appropriate issues for the audit committee's attention and to describe them in the proper context. </p> <div class="mw-heading mw-heading3"><h3 id="Audit_philosophy">Audit philosophy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=14" title="Edit section: Audit philosophy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Some of the philosophy and approach of internal auditing is derived from the work of Lawrence Sawyer. His philosophy and guidance on the role of internal audit was a forerunner of the current definition of internal auditing. It emphasized assisting management and the board in achieving the organization's objectives through well-reasoned audits, evaluations, and analyses of operational areas. He encouraged the modern internal auditor to act as a counsellor to management rather than as an adversary. Sawyer saw auditors as active players influencing events in the business rather than criticizing all degrees of errors and mistakes. He also foresaw a more desirable auditor future involving a stronger relationship with members of audit committee and the board and a divorce from direct reporting to the chief financial officer.<sup id="cite_ref-Sawyer_1_22-0" class="reference"><a href="#cite_note-Sawyer_1-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p><p>Sawyer often talked about "catching a manager doing something right" and providing recognition and positive reinforcement. Writing about positive observations in audit reports was rarely done until Sawyer started talking about the idea. He understood and forecast the benefits of providing more balanced reporting while simultaneously building better relationships. Sawyer understood the psychology of interpersonal dynamics and the need for all people to receive acknowledgment and validation for relationships to prosper.<sup id="cite_ref-Sawyer_1_22-1" class="reference"><a href="#cite_note-Sawyer_1-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p><p>Sawyer helped make internal auditing more relevant and more interesting through a sharp focus on operational or performance auditing. He strongly encouraged looking beyond financial statements and financial-related auditing into areas such as purchasing, warehousing and distribution, human resources, information technology, facilities management, customer service, field operations, and program management. This approach helped catapult the chief audit executive into the role of a respected and knowledgeable adviser who was thought to be reasonable, objective, and concerned about helping the organization achieve the stated goals.<sup id="cite_ref-Sawyer_1_22-2" class="reference"><a href="#cite_note-Sawyer_1-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Three_lines_of_defence">Three lines of defence</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=15" title="Edit section: Three lines of defence"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The "Three Lines of Defence Model" <sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> <sup id="cite_ref-ACT_24-0" class="reference"><a href="#cite_note-ACT-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> <sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> <sup id="cite_ref-ICAEW_26-0" class="reference"><a href="#cite_note-ICAEW-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> is a framework outlining the relationship between <a href="/wiki/Business#Activities" title="Business">business functions</a>, <a href="/wiki/Risk_management" title="Risk management">risk management</a>, and internal audit, delineating how responsibilities should be divided. It is designed "to assure the effective and transparent management of risk", by making accountabilities clear. The terminology is analogized from the military "<a href="/wiki/Line_of_defence" class="mw-redirect" title="Line of defence">Line of defence</a>" (and the concept of <a href="/wiki/Defence_in_depth_(non-military)" title="Defence in depth (non-military)">defence in depth</a>). </p> <ul><li>Under the first line of defence, risks are managed and controlled day-to-day. Here customer-facing <a href="/wiki/Management#Middle_management" title="Management">operational management</a> has "ownership, responsibility and accountability for directly assessing, controlling and mitigating risks".<sup id="cite_ref-ACT_24-1" class="reference"><a href="#cite_note-ACT-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> Its value <sup id="cite_ref-ICAEW_26-1" class="reference"><a href="#cite_note-ICAEW-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> is that it comes "from those who know the business, culture and day-to-day challenges" (see also <a href="/wiki/Internal_control#Operating_staff" title="Internal control">Internal control § Operating staff</a>); at the same time, however, this Line may lack independence.</li> <li>The second line of defence consists of the independent functions of Risk Management, <a href="/wiki/Regulatory_compliance" title="Regulatory compliance">Compliance</a>, and <a href="/wiki/Operational_risk" title="Operational risk">Operational Risk</a>. This line of defence monitors and facilitates the implementation of effective risk management practices by the first line, providing "oversight and challenge";<sup id="cite_ref-ACT_24-2" class="reference"><a href="#cite_note-ACT-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> and also assists the "risk owners" in producing and interpreting <a href="/wiki/Risk_register" title="Risk register">risk-related reporting</a>. Although separate from those responsible for delivery, it is not independent of the management chain.<sup id="cite_ref-ICAEW_26-2" class="reference"><a href="#cite_note-ICAEW-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> (See, re banking, <a href="/wiki/Middle_office" title="Middle office">Middle office</a>.)</li> <li>The third line of defence is internal audit, reporting directly to the <a href="/wiki/Board_of_directors" title="Board of directors">Board of directors</a>. Internal audit reviews and reports on both the first and the second lines of defence, providing objective and independent assurance, <sup id="cite_ref-ICAEW_26-3" class="reference"><a href="#cite_note-ICAEW-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> per <a href="#Role_in_corporate_governance">§ Role in corporate governance</a> above.</li></ul> <p>Under later iterations of the model,<sup id="cite_ref-ICAEW_26-4" class="reference"><a href="#cite_note-ICAEW-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> assurance from "external independent bodies" is seen as a fourth line of defence; here the <a href="/wiki/External_auditor" title="External auditor">external auditor</a>, <a href="/wiki/Corporate_services#Business_advisory_service" title="Corporate services">and others</a>, provide assurance and insights to the Board and are "clearly seen to be independent". </p><p>The "last line of defence" <sup id="cite_ref-PRMIA_27-0" class="reference"><a href="#cite_note-PRMIA-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> against risk is that of <a href="/wiki/Capital_(finance)" class="mw-redirect" title="Capital (finance)">capital</a>, as a <a href="/wiki/Capital_adequacy" class="mw-redirect" title="Capital adequacy">sufficient quantum</a> "ensures that a firm can continue as a <a href="/wiki/Going_concern" title="Going concern">going concern</a> even if substantial and unexpected losses are incurred";<sup id="cite_ref-PRMIA_27-1" class="reference"><a href="#cite_note-PRMIA-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> see <a href="/wiki/Risk_capital" class="mw-redirect" title="Risk capital">Risk capital</a>, <a href="/wiki/Regulatory_capital" class="mw-redirect" title="Regulatory capital">Regulatory capital</a>, <a href="/wiki/Financial_risk_management" title="Financial risk management">Financial risk management</a>, and <a href="/wiki/Going_concern#Management's_plans" title="Going concern">Going concern § Management's plans</a>. </p> <div class="mw-heading mw-heading3"><h3 id="Disruptive_innovation">Disruptive innovation</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=16" title="Edit section: Disruptive innovation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Internal audit plays a critical role maintaining effective control mitigating emerging risks. Businesses will increase risk or bypass opportunity if auditors do not address disruption-related risks.<sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> Michael G. Alles has discussed that <a href="/wiki/Big_Data" class="mw-redirect" title="Big Data">Big Data</a> is a <a href="/wiki/Disruptive_innovation" title="Disruptive innovation">disruptive innovation</a> that auditors must incorporate in practice.<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> A 2019 study, <i>Internal Auditors' Response to Disruptive Innovation</i>, reports on the evolution of internal audit to react to changes. Disruptions examined include data analytics, agile processes, cloud computing, robotic process automation, continuous auditing, regulatory change, and artificial intelligence.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=17" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Certified_Information_Systems_Auditor" class="mw-redirect" title="Certified Information Systems Auditor">Certified Information Systems Auditor</a></li> <li><a href="/wiki/Chartered_Institute_of_Internal_Auditors" title="Chartered Institute of Internal Auditors">Chartered Institute of Internal Auditors</a></li> <li><a href="/wiki/Committee_of_Sponsoring_Organizations_of_the_Treadway_Commission" title="Committee of Sponsoring Organizations of the Treadway Commission">Committee of Sponsoring Organizations of the Treadway Commission</a> (COSO)</li> <li><a href="/wiki/Fraud_deterrence" title="Fraud deterrence">Fraud deterrence</a></li> <li><a href="/wiki/Institute_of_Internal_Auditors" title="Institute of Internal Auditors">Institute of Internal Auditors</a></li> <li><a href="/wiki/International_Auditing_and_Assurance_Standards_Board" title="International Auditing and Assurance Standards Board">International Auditing and Assurance Standards Board</a></li> <li><a href="/wiki/International_Register_of_Certificated_Auditors" title="International Register of Certificated Auditors">International Register of Certificated Auditors</a></li> <li><a href="/wiki/IS_audit" class="mw-redirect" title="IS audit">IS audit</a></li> <li><a href="/wiki/Operational_auditing" title="Operational auditing">Operational auditing</a></li> <li><a href="/wiki/Risk-based_internal_audit" title="Risk-based internal audit">Risk-based internal audit</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Internal_audit&action=edit&section=18" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><div class="side-box metadata side-box-right"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-abovebelow"> <a href="/wiki/Wikipedia:The_Wikipedia_Library" title="Wikipedia:The Wikipedia Library">Library resources</a> about <br /> <b>Internal audit</b> <hr /></div> <div class="side-box-flex"> <div class="side-box-text plainlist"><ul><li><a class="external text" href="https://ftl.toolforge.org/cgi-bin/ftl?st=wp&su=Internal+audit">Resources in your library</a></li> </ul></div></div> </div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><a href="/wiki/Institute_of_Internal_Auditors" title="Institute of Internal Auditors">IIA</a>'s definition of audit.</span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFWood2012" class="citation journal cs1">Wood, David A. (May 2012). "Corporate Managers' Reliance on Internal Auditor Recommendations". <i>AUDITING: A Journal of Practice & Theory</i>. <b>31</b> (2): 151–166. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2308%2Fajpt-10234">10.2308/ajpt-10234</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=AUDITING%3A+A+Journal+of+Practice+%26+Theory&rft.atitle=Corporate+Managers%27+Reliance+on+Internal+Auditor+Recommendations&rft.volume=31&rft.issue=2&rft.pages=151-166&rft.date=2012-05&rft_id=info%3Adoi%2F10.2308%2Fajpt-10234&rft.aulast=Wood&rft.aufirst=David+A.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWood2009" class="citation journal cs1">Wood, David A. (July 2009). "Internal Audit Quality and Earnings Management". <i>The Accounting Review</i>. <b>84</b> (4): 1255–1280. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2308%2Faccr.2009.84.4.1255">10.2308/accr.2009.84.4.1255</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:154999202">154999202</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Accounting+Review&rft.atitle=Internal+Audit+Quality+and+Earnings+Management&rft.volume=84&rft.issue=4&rft.pages=1255-1280&rft.date=2009-07&rft_id=info%3Adoi%2F10.2308%2Faccr.2009.84.4.1255&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A154999202%23id-name%3DS2CID&rft.aulast=Wood&rft.aufirst=David+A.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWood2013" class="citation journal cs1">Wood, David A. (September 2013). "A Descriptive Study of Factors Associated with the Internal Audit Function Policies Having an Impact: Comparisons Between Organizations in a Developed and an Emerging Economy". <i>Turkish Studies</i>. <b>14</b> (3): 581–606. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1080%2F14683849.2013.833019">10.1080/14683849.2013.833019</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:145381015">145381015</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Turkish+Studies&rft.atitle=A+Descriptive+Study+of+Factors+Associated+with+the+Internal+Audit+Function+Policies+Having+an+Impact%3A+Comparisons+Between+Organizations+in+a+Developed+and+an+Emerging+Economy&rft.volume=14&rft.issue=3&rft.pages=581-606&rft.date=2013-09&rft_id=info%3Adoi%2F10.1080%2F14683849.2013.833019&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A145381015%23id-name%3DS2CID&rft.aulast=Wood&rft.aufirst=David+A.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20130820060149/http://www.eciia.eu/profession/certifications/ecgap-0">"UK and Ireland Certifications"</a>. Eciia.eu. 2013-06-25. Archived from <a rel="nofollow" class="external text" href="http://www.eciia.eu/profession/certifications/ecgap-0">the original</a> on 2013-08-20<span class="reference-accessdate">. Retrieved <span class="nowrap">2013-09-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=UK+and+Ireland+Certifications&rft.pub=Eciia.eu&rft.date=2013-06-25&rft_id=http%3A%2F%2Fwww.eciia.eu%2Fprofession%2Fcertifications%2Fecgap-0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://na.theiia.org/iiarf/Public%20Documents/Chapter%201%20Internal%20Auditing%20History%20Evolution%20and%20Prospects.pdf">"The IIA-History and Evolution of Internal Auditing"</a> <span class="cs1-format">(PDF)</span><span class="reference-accessdate">. Retrieved <span class="nowrap">2013-09-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+IIA-History+and+Evolution+of+Internal+Auditing&rft_id=https%3A%2F%2Fna.theiia.org%2Fiiarf%2FPublic%2520Documents%2FChapter%25201%2520Internal%2520Auditing%2520History%2520Evolution%2520and%2520Prospects.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://na.theiia.org/periodicals/Pages/Internal-Auditor-Magazine.aspx">"Internal Auditor Magazine"</a>. na.theiia.org. 2000-01-01<span class="reference-accessdate">. Retrieved <span class="nowrap">2013-09-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Internal+Auditor+Magazine&rft.pub=na.theiia.org&rft.date=2000-01-01&rft_id=https%3A%2F%2Fna.theiia.org%2Fperiodicals%2FPages%2FInternal-Auditor-Magazine.aspx&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://global.theiia.org/standards-guidance/mandatory-guidance/Pages/Standards.aspx">"Pages – Standards"</a>. <i>theiia.org</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=theiia.org&rft.atitle=Pages+%E2%80%93+Standards&rft_id=https%3A%2F%2Fglobal.theiia.org%2Fstandards-guidance%2Fmandatory-guidance%2FPages%2FStandards.aspx&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20130905225145/http://www.theiia.org/download.cfm?file=283">"Role of Internal Auditing in ERM"</a>. Archived from <a rel="nofollow" class="external text" href="http://www.theiia.org/download.cfm?file=283">the original</a> on 2013-09-05<span class="reference-accessdate">. Retrieved <span class="nowrap">2013-09-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Role+of+Internal+Auditing+in+ERM&rft_id=http%3A%2F%2Fwww.theiia.org%2Fdownload.cfm%3Ffile%3D283&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://ecaas.com.au/training/">"ECAAS Certification & Training"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">2015-06-16</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=ECAAS+Certification+%26+Training&rft_id=http%3A%2F%2Fecaas.com.au%2Ftraining%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://findarticles.com/p/articles/mi_m4153/is_3_62/ai_n15985363/pg_1">"IIA Article "Getting a Leg Up"<span class="cs1-kern-right"></span>"</a>. Findarticles.com<span class="reference-accessdate">. Retrieved <span class="nowrap">2013-09-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=IIA+Article+%22Getting+a+Leg+Up%22&rft.pub=Findarticles.com&rft_id=http%3A%2F%2Ffindarticles.com%2Fp%2Farticles%2Fmi_m4153%2Fis_3_62%2Fai_n15985363%2Fpg_1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation cs2"><a rel="nofollow" class="external text" href="https://dx.doi.org/10.1007/978-3-540-70887-2_35">"Management of Internal Audit"</a>, <i>Internal Audit Handbook</i>, Berlin, Heidelberg: Springer Berlin Heidelberg, pp. 547–552, 2008, <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1007%2F978-3-540-70887-2_35">10.1007/978-3-540-70887-2_35</a>, <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-3-540-70886-5" title="Special:BookSources/978-3-540-70886-5"><bdi>978-3-540-70886-5</bdi></a><span class="reference-accessdate">, retrieved <span class="nowrap">2020-11-14</span></span></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Internal+Audit+Handbook&rft.atitle=Management+of+Internal+Audit&rft.pages=547-552&rft.date=2008&rft_id=info%3Adoi%2F10.1007%2F978-3-540-70887-2_35&rft.isbn=978-3-540-70886-5&rft_id=http%3A%2F%2Fdx.doi.org%2F10.1007%2F978-3-540-70887-2_35&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDavid_Griffiths" class="citation web cs1">David Griffiths. <a rel="nofollow" class="external text" href="http://www.internalaudit.biz">"Internal audit – Risk based – Introduction"</a>. <i>internalaudit.biz</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=internalaudit.biz&rft.atitle=Internal+audit+%E2%80%93+Risk+based+%E2%80%93+Introduction&rft.au=David+Griffiths&rft_id=http%3A%2F%2Fwww.internalaudit.biz&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20131213050429/http://www.internalauditexpert.in/checklist/process">"Internal Audit Checklists of various processes"</a>. <i>Internal Audit Expert</i>. internalauditexpert.in. Archived from <a rel="nofollow" class="external text" href="http://www.internalauditexpert.in/checklist/process">the original</a> on 13 December 2013<span class="reference-accessdate">. Retrieved <span class="nowrap">12 December</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Internal+Audit+Expert&rft.atitle=Internal+Audit+Checklists+of+various+processes&rft_id=http%3A%2F%2Fwww.internalauditexpert.in%2Fchecklist%2Fprocess&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20131207055246/http://www.internalauditexpert.in/white-paper/121-format-of-internal-audit-report">"Format of Internal Audit Report"</a>. <i>internalauditexpert.in</i>. Archived from <a rel="nofollow" class="external text" href="http://www.internalauditexpert.in/white-paper/121-format-of-internal-audit-report">the original</a> on 7 December 2013<span class="reference-accessdate">. Retrieved <span class="nowrap">3 December</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=internalauditexpert.in&rft.atitle=Format+of+Internal+Audit+Report&rft_id=http%3A%2F%2Fwww.internalauditexpert.in%2Fwhite-paper%2F121-format-of-internal-audit-report&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-na.theiia.org-16"><span class="mw-cite-backlink">^ <a href="#cite_ref-na.theiia.org_16-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-na.theiia.org_16-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://na.theiia.org/standards-guidance/recommended-guidance/practice-guides/Pages/Developing-the-Internal-Audit-Strategic-Plan-Practice-Guide.aspx">"Pages – Developing the Internal Audit Strategic Plan Practice Guide"</a>. <i>theiia.org</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=theiia.org&rft.atitle=Pages+%E2%80%93+Developing+the+Internal+Audit+Strategic+Plan+Practice+Guide&rft_id=https%3A%2F%2Fna.theiia.org%2Fstandards-guidance%2Frecommended-guidance%2Fpractice-guides%2FPages%2FDeveloping-the-Internal-Audit-Strategic-Plan-Practice-Guide.aspx&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWood2011" class="citation journal cs1">Wood, David A. (November 2011). "The Effect of Using the Internal Audit Function as a Management Training Ground on the External Auditor's Reliance Decision". <i>The Accounting Review</i>. <b>86</b> (6): 2131–2154. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2308%2Faccr-10136">10.2308/accr-10136</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+Accounting+Review&rft.atitle=The+Effect+of+Using+the+Internal+Audit+Function+as+a+Management+Training+Ground+on+the+External+Auditor%27s+Reliance+Decision&rft.volume=86&rft.issue=6&rft.pages=2131-2154&rft.date=2011-11&rft_id=info%3Adoi%2F10.2308%2Faccr-10136&rft.aulast=Wood&rft.aufirst=David+A.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text">Frigo, Mark L. <i>A Balanced Scorecard Framework for Internal Auditing Departments</i>. IIA Research Foundation. Altamonte Springs, FL.: 2002</span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20120308070554/http://www.theiia.org/guidance/benchmarking/">"IIA-GAIN Study-Knowledge Report—Measuring Internal Audit Performance—September 2009"</a>. Theiia.org. 2000-01-01. Archived from <a rel="nofollow" class="external text" href="http://www.theiia.org/guidance/benchmarking/">the original</a> on 2012-03-08<span class="reference-accessdate">. Retrieved <span class="nowrap">2013-09-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=IIA-GAIN+Study-Knowledge+Report%E2%80%94Measuring+Internal+Audit+Performance%E2%80%94September+2009&rft.pub=Theiia.org&rft.date=2000-01-01&rft_id=http%3A%2F%2Fwww.theiia.org%2Fguidance%2Fbenchmarking%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.pwc.com/us/en/press-releases/2012/state-of-the-internal-audit-profession-survey.jhtml">"PWC-2012 State of the Internal Audit Profession Survey-March 2012"</a>. Pwc.com. 2012-03-20<span class="reference-accessdate">. Retrieved <span class="nowrap">2013-09-04</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=PWC-2012+State+of+the+Internal+Audit+Profession+Survey-March+2012&rft.pub=Pwc.com&rft.date=2012-03-20&rft_id=http%3A%2F%2Fwww.pwc.com%2Fus%2Fen%2Fpress-releases%2F2012%2Fstate-of-the-internal-audit-profession-survey.jhtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.projectauditors.com/Dictionary2/1.8/index.php/term/,62555d9cae53606f68555ca65c5e.xhtml">"Peer Review: IIA, GAGAS and ISSAI"</a>. projectauditors.com. 2012-01-01<span class="reference-accessdate">. Retrieved <span class="nowrap">2014-03-26</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Peer+Review%3A+IIA%2C+GAGAS+and+ISSAI&rft.pub=projectauditors.com&rft.date=2012-01-01&rft_id=http%3A%2F%2Fwww.projectauditors.com%2FDictionary2%2F1.8%2Findex.php%2Fterm%2F%2C62555d9cae53606f68555ca65c5e.xhtml&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-Sawyer_1-22"><span class="mw-cite-backlink">^ <a href="#cite_ref-Sawyer_1_22-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Sawyer_1_22-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Sawyer_1_22-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSawyer2003" class="citation book cs1">Sawyer, Lawrence (2003). <i>Sawyer's Internal Auditing 5th Edition</i>. Institute of Internal Auditors. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0894135095" title="Special:BookSources/978-0894135095"><bdi>978-0894135095</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Sawyer%27s+Internal+Auditing+5th+Edition&rft.pub=Institute+of+Internal+Auditors&rft.date=2003&rft.isbn=978-0894135095&rft.aulast=Sawyer&rft.aufirst=Lawrence&rfr_id=info%3Asid%2Fen.wikipedia.org%3AInternal+audit" class="Z3988"></span></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.iia.org.uk/resources/delivering-internal-audit/position-paper-the-three-lines-of-defence/">Position paper: The three lines of defence</a>, <a href="/wiki/Chartered_Institute_of_Internal_Auditors" title="Chartered Institute of Internal Auditors">Chartered Institute of Internal Auditors</a></span> </li> <li id="cite_note-ACT-24"><span class="mw-cite-backlink">^ <a href="#cite_ref-ACT_24-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-ACT_24-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-ACT_24-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://wiki.treasurers.org/wiki/Three_Lines_of_Defence_Model">Three Lines of Defence Model</a>, <a href="/wiki/Association_of_Corporate_Treasurers" title="Association of Corporate Treasurers">Association of Corporate Treasurers</a></span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.icas.com/professional-resources/audit-and-assurance/internal-audit/internal-audit-three-lines-of-defence-model-explained">Internal audit: three lines of defence model explained</a>, <a href="/wiki/Institute_of_Chartered_Accountants_of_Scotland" title="Institute of Chartered Accountants of Scotland">Institute of Chartered Accountants of Scotland</a></span> </li> <li id="cite_note-ICAEW-26"><span class="mw-cite-backlink">^ <a href="#cite_ref-ICAEW_26-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-ICAEW_26-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-ICAEW_26-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-ICAEW_26-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-ICAEW_26-4"><sup><i><b>e</b></i></sup></a></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.icaew.com/technical/audit-and-assurance/assurance/what-is-assurance/assurance-glossary/four-lines-of-defence">The four lines of defence</a>, <a href="/wiki/Institute_of_Chartered_Accountants_in_England_and_Wales" title="Institute of Chartered Accountants in England and Wales">Institute of Chartered Accountants in England and Wales</a></span> </li> <li id="cite_note-PRMIA-27"><span class="mw-cite-backlink">^ <a href="#cite_ref-PRMIA_27-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-PRMIA_27-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">III.A.3, in Carol Alexander, ed. (January 2005). <i>The Professional Risk Managers' Handbook</i>. <a href="/wiki/Professional_Risk_Managers%27_International_Association" title="Professional Risk Managers' International Association">PRMIA Publications</a>. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0976609704" title="Special:BookSources/978-0976609704">978-0976609704</a></span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text">Pett, J., Kristall, M., & Mack, D. (2017). Opportunity from disruption. <i>Internal Auditor</i>, 74(3), 57–60.</span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text">Michael G. Alles (2015) Drivers of the Use and Facilitators and Obstacles of the Evolution of Big Data by the Audit Profession. <i>Accounting Horizons</i>: June 2015 pp. 439-449</span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text">Christ, Margaret H.; Marc Eulerich and David A. Wood, 2019, <i>Internal Auditors' Response to Disruptive Innovation.</i> Internal Audit Foundation. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-63454-062-9" title="Special:BookSources/978-1-63454-062-9">978-1-63454-062-9</a></span> </li> </ol></div></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output .navbox-abovebelow{padding:0.25em 1em;line-height:1.5em;text-align:center}.mw-parser-output .navbox-group{white-space:nowrap;text-align:right}.mw-parser-output .navbox,.mw-parser-output .navbox-subgroup{background-color:#fdfdfd}.mw-parser-output .navbox-list{line-height:1.5em;border-color:#fdfdfd}.mw-parser-output .navbox-list-with-group{text-align:left;border-left-width:2px;border-left-style:solid}.mw-parser-output tr+tr>.navbox-abovebelow,.mw-parser-output tr+tr>.navbox-group,.mw-parser-output tr+tr>.navbox-image,.mw-parser-output tr+tr>.navbox-list{border-top:2px solid #fdfdfd}.mw-parser-output .navbox-title{background-color:#ccf}.mw-parser-output .navbox-abovebelow,.mw-parser-output .navbox-group,.mw-parser-output .navbox-subgroup .navbox-title{background-color:#ddf}.mw-parser-output .navbox-subgroup .navbox-group,.mw-parser-output .navbox-subgroup .navbox-abovebelow{background-color:#e6e6ff}.mw-parser-output .navbox-even{background-color:#f7f7f7}.mw-parser-output .navbox-odd{background-color:transparent}.mw-parser-output .navbox .hlist td dl,.mw-parser-output .navbox .hlist td ol,.mw-parser-output .navbox .hlist td ul,.mw-parser-output .navbox td.hlist dl,.mw-parser-output .navbox td.hlist ol,.mw-parser-output .navbox td.hlist ul{padding:0.125em 0}.mw-parser-output .navbox .navbar{display:block;font-size:100%}.mw-parser-output .navbox-title .navbar{float:left;text-align:left;margin-right:0.5em}body.skin--responsive .mw-parser-output .navbox-image img{max-width:none!important}@media print{body.ns-0 .mw-parser-output .navbox{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1038841319">.mw-parser-output .tooltip-dotted{border-bottom:1px dotted;cursor:help}</style></div><div role="navigation" class="navbox authority-control" aria-label="Navbox" style="padding:3px"><table class="nowraplinks hlist navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Help:Authority_control" title="Help:Authority control">Authority control databases</a>: National <span class="mw-valign-text-top noprint" typeof="mw:File/Frameless"><a href="https://www.wikidata.org/wiki/Q6452684#identifiers" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></span></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"><ul><li><span class="uid"><a rel="nofollow" class="external text" href="https://id.ndl.go.jp/auth/ndlna/00567977">Japan</a></span></li><li><span class="uid"><span class="rt-commentedText tooltip tooltip-dotted" title="interní audit"><a rel="nofollow" class="external text" href="https://aleph.nkp.cz/F/?func=find-c&local_base=aut&ccl_term=ica=ph114785&CON_LNG=ENG">Czech Republic</a></span></span></li></ul></div></td></tr></tbody></table></div>    </div><noscript><img src="https://login.wikimedia.org/wiki/Special:CentralAutoLogin/start?type=1x1" alt="" width="1" height="1" style="border: none; position: absolute;"></noscript> <div class="printfooter" data-nosnippet="">Retrieved from "<a dir="ltr" href="https://en.wikipedia.org/w/index.php?title=Internal_audit&oldid=1258709985">https://en.wikipedia.org/w/index.php?title=Internal_audit&oldid=1258709985</a>"</div></div> <div id="catlinks" class="catlinks" data-mw="interface"><div id="mw-normal-catlinks" class="mw-normal-catlinks"><a href="/wiki/Help:Category" title="Help:Category">Categories</a>: <ul><li><a href="/wiki/Category:Internal_audit" title="Category:Internal audit">Internal audit</a></li><li><a href="/wiki/Category:Auditing" title="Category:Auditing">Auditing</a></li><li><a href="/wiki/Category:Types_of_auditing" title="Category:Types of auditing">Types of auditing</a></li></ul></div><div id="mw-hidden-catlinks" class="mw-hidden-catlinks mw-hidden-cats-hidden">Hidden categories: <ul><li><a href="/wiki/Category:Articles_with_short_description" title="Category:Articles with short description">Articles with short description</a></li><li><a href="/wiki/Category:Short_description_is_different_from_Wikidata" title="Category:Short description is different from Wikidata">Short description is different from Wikidata</a></li><li><a href="/wiki/Category:All_articles_with_unsourced_statements" title="Category:All articles with unsourced statements">All articles with unsourced statements</a></li><li><a href="/wiki/Category:Articles_with_unsourced_statements_from_May_2021" title="Category:Articles with unsourced statements from May 2021">Articles with unsourced statements from May 2021</a></li></ul></div></div> </div> </main> </div> <div class="mw-footer-container"> <footer id="footer" class="mw-footer" > <ul id="footer-info"> <li id="footer-info-lastmod"> This page was last edited on 21 November 2024, at 04:40<span class="anonymous-show"> (UTC)</span>.</li> <li id="footer-info-copyright">Text is available under the <a href="/wiki/Wikipedia:Text_of_the_Creative_Commons_Attribution-ShareAlike_4.0_International_License" title="Wikipedia:Text of the Creative Commons Attribution-ShareAlike 4.0 International License">Creative Commons Attribution-ShareAlike 4.0 License</a>; additional terms may apply. By using this site, you agree to the <a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Terms_of_Use" class="extiw" title="foundation:Special:MyLanguage/Policy:Terms of Use">Terms of Use</a> and <a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Privacy_policy" class="extiw" title="foundation:Special:MyLanguage/Policy:Privacy policy">Privacy Policy</a>. Wikipedia® is a registered trademark of the <a rel="nofollow" class="external text" href="https://wikimediafoundation.org/">Wikimedia Foundation, Inc.</a>, a non-profit organization.</li> </ul> <ul id="footer-places"> <li id="footer-places-privacy"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Privacy_policy">Privacy policy</a></li> <li id="footer-places-about"><a href="/wiki/Wikipedia:About">About Wikipedia</a></li> <li id="footer-places-disclaimers"><a href="/wiki/Wikipedia:General_disclaimer">Disclaimers</a></li> <li id="footer-places-contact"><a href="//en.wikipedia.org/wiki/Wikipedia:Contact_us">Contact Wikipedia</a></li> <li id="footer-places-wm-codeofconduct"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Universal_Code_of_Conduct">Code of Conduct</a></li> <li id="footer-places-developers"><a href="https://developer.wikimedia.org">Developers</a></li> <li id="footer-places-statslink"><a href="https://stats.wikimedia.org/#/en.wikipedia.org">Statistics</a></li> <li id="footer-places-cookiestatement"><a href="https://foundation.wikimedia.org/wiki/Special:MyLanguage/Policy:Cookie_statement">Cookie statement</a></li> <li id="footer-places-mobileview"><a href="//en.m.wikipedia.org/w/index.php?title=Internal_audit&mobileaction=toggle_view_mobile" class="noprint stopMobileRedirectToggle">Mobile view</a></li> </ul> <ul id="footer-icons" class="noprint"> <li id="footer-copyrightico"><a href="https://wikimediafoundation.org/" class="cdx-button cdx-button--fake-button cdx-button--size-large cdx-button--fake-button--enabled"><img src="/static/images/footer/wikimedia-button.svg" width="84" height="29" alt="Wikimedia Foundation" loading="lazy"></a></li> <li id="footer-poweredbyico"><a href="https://www.mediawiki.org/" class="cdx-button cdx-button--fake-button cdx-button--size-large cdx-button--fake-button--enabled"><img src="/w/resources/assets/poweredby_mediawiki.svg" alt="Powered by MediaWiki" width="88" height="31" loading="lazy"></a></li> </ul> </footer> </div> </div> </div> <div class="vector-settings" id="p-dock-bottom"> <ul></ul> </div><script>(RLQ=window.RLQ||[]).push(function(){mw.config.set({"wgHostname":"mw-web.codfw.main-f69cdc8f6-w98px","wgBackendResponseTime":130,"wgPageParseReport":{"limitreport":{"cputime":"0.537","walltime":"0.670","ppvisitednodes":{"value":2516,"limit":1000000},"postexpandincludesize":{"value":71577,"limit":2097152},"templateargumentsize":{"value":1816,"limit":2097152},"expansiondepth":{"value":16,"limit":100},"expensivefunctioncount":{"value":2,"limit":500},"unstrip-depth":{"value":1,"limit":20},"unstrip-size":{"value":147156,"limit":5000000},"entityaccesscount":{"value":1,"limit":400},"timingprofile":["100.00% 594.913 1 -total"," 38.78% 230.680 1 Template:Reflist"," 19.61% 116.643 1 Template:Accounting"," 19.15% 113.908 1 Template:Sidebar_with_collapsible_lists"," 17.77% 105.708 4 Template:Cite_journal"," 13.81% 82.151 1 Template:Short_description"," 11.88% 70.684 1 Template:Authority_control"," 8.13% 48.391 11 Template:Hlist"," 8.09% 48.115 14 Template:Cite_web"," 7.42% 44.169 2 Template:Pagetype"]},"scribunto":{"limitreport-timeusage":{"value":"0.339","limit":"10.000"},"limitreport-memusage":{"value":7141815,"limit":52428800}},"cachereport":{"origin":"mw-web.codfw.main-f69cdc8f6-nd6xd","timestamp":"20241122142029","ttl":2592000,"transientcontent":false}}});});</script> <script type="application/ld+json">{"@context":"https:\/\/schema.org","@type":"Article","name":"Internal audit","url":"https:\/\/en.wikipedia.org\/wiki\/Internal_audit","sameAs":"http:\/\/www.wikidata.org\/entity\/Q6452684","mainEntity":"http:\/\/www.wikidata.org\/entity\/Q6452684","author":{"@type":"Organization","name":"Contributors to Wikimedia projects"},"publisher":{"@type":"Organization","name":"Wikimedia Foundation, Inc.","logo":{"@type":"ImageObject","url":"https:\/\/www.wikimedia.org\/static\/images\/wmf-hor-googpub.png"}},"datePublished":"2006-05-16T08:51:19Z","dateModified":"2024-11-21T04:40:51Z","headline":"independent, objective assurance and consulting activity designed to add value to and improve an organization's operations"}</script> </body> </html>