Institute of Internal Auditors Philippines Centre for Professional Development

Internal Auditing Today

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Overview
This unit covers how internal auditing is defined today as well as roles within the internal audit function. The unit also includes an overview of the International Professional Practices Framework.

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TOOLS AND TECHNIQUES FOR THE INTERNAL AUDIT STAFF

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Institute of Internal Auditors Philippines Centre for Professional Development

Objectives
By the end of this unit, you should be able to:
- Define internal auditing. - Identify the roles of internal auditors. - Describe the components of the Audit Model.

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Readings and Resources

- An Internal Audit Philosophy, Lawrence B. Sawyer - Case Study 2.2-2.4, United Eating - Case Study 2.5, United Eating: Organization Chart - Case Study 2.6, Key Internal Audit Customers - Case Study 2.7, Summary: CAE Interviews, Key Internal Audit Customers

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Institute of Internal Auditors Philippines Centre for Professional Development

Definition of Internal Auditing

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
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Worksheet: Services and Value-Added Opportunities

Consider your reading of the definition of internal auditing and your own experience to answer the following questions:
1. What would you identify as internal auditings core services?
2. What are the value-added opportunities?

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TOOLS AND TECHNIQUES FOR THE INTERNAL AUDIT STAFF

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Institute of Internal Auditors Philippines Centre for Professional Development

Activity: Internal Auditor Roles

The activity identifies possible roles that internal auditing can play within an organization. Which of these are appropriate roles and which are not?

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Worksheet: Internal Auditing Customers and Stakeholders

Respond to each question by listing internal auditings customers and stakeholders.

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TOOLS AND TECHNIQUES FOR THE INTERNAL AUDIT STAFF

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Institute of Internal Auditors Philippines Centre for Professional Development

Case Study: United Eating

- Case Study - United Eating Background - Case Study - United Eating: Organization Chart - Case Study - Key Internal Audit Customers - Case Study - Summary: CAE Interviews, Key Internal Audit Customers

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Activity: Audit Team Roles

Consider your own internal audit function, and identify which of these roles are present, which are not, and if appropriate what other roles you have on your audit teams.

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TOOLS AND TECHNIQUES FOR THE INTERNAL AUDIT STAFF

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Institute of Internal Auditors Philippines Centre for Professional Development

The Audit Model

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Activities in the Audit Model

Objective
Clarify the activities that occur within each stage of the audit model.

Instructions
Place the activities listed on the page into the correct stage of the audit model. Some activities may occur in more than one stage.

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TOOLS AND TECHNIQUES FOR THE INTERNAL AUDIT STAFF

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Institute of Internal Auditors Philippines Centre for Professional Development

Activities in the Audit Model: Answers Suggested Answers

Planning: c, d, h, i, k, l, m, n Performing: a, d, e, i, l, m, n Communicating: a, b, i, j, m, n Monitoring: f, i, m, n Quality Assurance: g, i, m, n

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Examples: Audit-Model Steps

- Planning - Performing - Communicating - Monitoring

- Quality Assurance

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TOOLS AND TECHNIQUES FOR THE INTERNAL AUDIT STAFF

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Institute of Internal Auditors Philippines Centre for Professional Development

Participant Expectations, Ideas, and Insights

Update your ideas and insights page.

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TOOLS AND TECHNIQUES FOR THE INTERNAL AUDIT STAFF

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