Internal Auditing is an independent ,objective assurance and consulting activity designed to add value and improve an organization's opertions. It helps the organization to:
1: Accomplish its objectives by bringing a systematic,disciplined approach.
2: To improve the effectiveness of risk management.
3: To improve controls.
4: To improve governance process.
If we focus again on Definition you will get some points to focus on:
>Independence: Free from interference in determining scope,performing work and communicating results.
>Objective: NO undue influences.
>Assurance services: Its an objective examination of evidence to provide an independent assessment on risk manangement , control and governance process,E.g.,Financial performance,Compliance,System security and due diligence engagements.
>ConsultingServices:Advisory and related client services activities, E.G,Counsel,Advice,Facilitation,Process design,Training.
>Add Value: Benifits to owners,other stake holders,customer and clients.
>Governance Process: procedures of stake holders, E.G.,To provide oversight of risk and control processes of management.
>Independence: Free from interference in determining scope,performing work and communicating results.
>Objective: NO undue influences.
>Assurance services: Its an objective examination of evidence to provide an independent assessment on risk manangement , control and governance process,E.g.,Financial performance,Compliance,System security and due diligence engagements.
>ConsultingServices:Advisory and related client services activities, E.G,Counsel,Advice,Facilitation,Process design,Training.
>Add Value: Benifits to owners,other stake holders,customer and clients.
>Governance Process: procedures of stake holders, E.G.,To provide oversight of risk and control processes of management.