Internal Auditing
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Internal Auditing is an independent, objective assurance and consulting activity 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 risk management, control and governance processes. Performed by professionals with an in-depth understanding of the business culture, systems and processes, the internal audit activity provides assurance that internal controls in place are adequate to mitigate the risks, governance processes are effective and efficient, and organisational goals and objectives are met. For the internal audit activity to provide the greatest level of support, best practice suggests that the internal auditors should report to the Chief Executive Officer (CEO) for administrative interface and support, and to the Audit Committee of the Board of Directors for direction and accountability. |
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