Internal Auditing:

An Introduction
Chapter 3
The Professional Internal Auditor

2
IPPF: Standards
 Purpose
 Framework

 Basis for evaluation of Internal Audit Activity (IAA)

 Improved organisational processes and operations

 Delineate basic principles that represent the practice

of Internal Auditing

3
IPPF: Standards

4
Standards Blueprint

5
Role of Internal Auditors

 Effective IAA – at centre of org & report to highest level of

authority
 Most IAA have multi-skilled and multi-qualified team
members
 Why IAA? To assist management with, amongst others:
 improving systems, procedures and processes

 safeguarding organisation’s assets

 providing reliable financial information

 compliance to laws and regulations

6
Role of Internal Auditors

7
 Role of Internal Auditors

 Assurance services –
 Policies and procedures are adhered to

 Are controls mitigating the risks?

 Consulting services –
 IC training

 Advice to mgt

 Assisting in developing & drafting policies

 Participating in quality teams

8
End

QUESTIONS?