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Internal Auditing Today

www.theiia.org/Training

Overview

This unit covers how internal auditing is

defined today as well as roles within the

internal audit function. The unit also includesan overview of the International ProfessionalPractices Framework.

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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.

2-[3] www.theiia.org/Training

Readings and Resources

- An Internal Audit Philosophy, Lawrence B. Sawyer

- Case Study 2.2-2.4, United Eating

- Case Study 2.5, United Eating: OrganizationChart

- Case Study 2.6, Key Internal Audit Customers

-Case Study 2.7, Summary: CAE Interviews, Key

Internal Audit Customers

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Definition of Internal Auditing

Internal auditing is an independent, objectiveassurance and consulting activity designed toadd value and improve an organizationsoperations. It helps an organizationaccomplish its objectives by bringing asystematic, disciplined approach to evaluateand improve the effectiveness of riskmanagement, control, and governanceprocesses.

2-[5] www.theiia.org/Training

Worksheet: Services and Value-AddedOpportunities

Consider your reading of the definition ofinternal auditing and your own experience toanswer the following questions:

1.What would you identify as internal auditingscore services?

2. What are the value-added opportunities?

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Activity: Internal Auditor Roles

The activity identifies possible roles thatinternal auditing can play within anorganization.

Which of these are appropriate roles andwhich are not?

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Worksheet: Internal Auditing Customersand Stakeholders

Respond to each question by listing internalauditings customers and stakeholders.

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Case Study: United Eating

- Case Study - United Eating Background

- Case Study - United Eating: OrganizationChart

- Case Study - Key Internal Audit Customers

- Case Study - Summary: CAE Interviews, KeyInternal Audit Customers

2-[9] www.theiia.org/Training

Activity: Audit Team Roles

Consider your own internal audit function, andidentify which of these roles are present,which are not, andif appropriatewhatother roles you have on your audit teams.

2-[10] www.theiia.org/Training

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The Audit Model

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Activities in the Audit Model

Objective

Clarify the activities that occur within each stage of the auditmodel.

Instructions

Place the activities listed on the page into the correct stage ofthe audit model. Some activities may occur in more than onestage.

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Activities in the Audit Model: AnswersSuggested Answers

Planning: c, d, h, i, k, l, m, nPerforming: a, d, e, i, l, m, nCommunicating: a, b, i, j, m, nMonitoring: 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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Participant Expectations, Ideas, andInsights

Update your ideas and insights page.

2-[15] www.theiia.org/Training

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