Implementing Internal Audit Governance
This white paper outlines the strategies and techniques used to implement internal audit governance in your organisation. Internal audit provides ongoing value to your organisation through cost effective savings identification, ensuring processes are running optimally, waste is being minimised and implementing controls to mitigate significant business risks. This is important for the long term sustainability of your organisation and seeks to ensure that your resources are allocated in the most efficient way possible.
The Internal Audit function seeks to improve business processes and deliver cost savings by implementing a number of methodologies and creating a framework to use them in your organisation.
This paper outlines the process for the creation for an internal audit framework, an audit committee, details the risk management process, and the development of a risk register. The paper goes on to discuss the importance and use of strategic audit plans in your organisation. Finally, the paper outlines the process by which the risks are mitigated, ensuring achievement of objectives for the organisation.