Effective use of internalaudit resources no longer means only maintaining a world-class assurance program that keeps the organization out of trouble. ... When assessing risk to the organization, internalaudit functions typically fall between basic and leading on the maturity curve below.
An internalaudit function is intended to provide assurance to the board and management about the way the company is managing risks and controls as they relate to the organisation's business objectives.
InternalAudit provides an independent and objective advisory service to provide assurance that the controls designed to manage the department's business risks (and achieve the entity's objectives) are operating in an efficient, effective and ethical manner, and to assist management in improving
INDEPENDENCE AND THE POSITION OF INTERNALAUDIT FUNCTION .... consulting services designed to add value and improve the organisation's operations. ... within each program/support plan; and that the strategic management ...