What Is Internal Audit?
According to the 2004 Institute of Internal Auditors (IIA) Professional Practices Framework, internal audit is:
- "An independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes."
Internal auditors typically have an in depth understanding of the business culture, systems, and processes. The internal audit department provides assurance that internal controls in place are adequate to mitigate the risks, governance processes are effective and efficient, and organizational goals and objectives are met.
Typical qualities of internal auditors
- Likes to ask questions
- Good analytical skills
- Good written and oral communication skills
Realities of being an Auditor
- You have access to all levels of the organizations
- If a particular area interests you, then you can rotate out of internal audit into that area
- You are highly visible in the organization
To find out more about internal audit, please visit the following websites:
