What is Internal Auditing

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

Performed by professionals with an in-depth understanding of the business culture, systems, and processes, internal auditing provides assurance that the organisation’s control processes are adequate to mitigate its risks, governance processes are effective and efficient, and organisational goals and objectives are met.

Evaluating emerging technologies. Analysing opportunities. Examining global issues. Assessing risks, controls, ethics, quality, economy, and efficiency. Assuring that controls in place are adequate to mitigate the risks. Communicating information and conclusions with clarity and accuracy. These diverse responsibilities give internal auditors a broad perspective on the organisation and make the internal audit function a valuable resource to boards of directors and senior management.