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Unformatted text preview: Sheet1 Page 1 How much of an organization's resources should be allocated to the internal audit function? Our observations and interaction with IIA leadership on international committees is that orga The observations and interaction with the size and composition of the existing internal audit A second method involves a systematic risk analysis approach whereby the internal audit de 1. It may not consider the use of advanced technology or other functions that perform risk m 2. It may not consider an "operational audit" mission of the department, cost-effective compl 3. It may not fully incorporate information about whether the risk analysis process itself is su A third approach to determining the "right" size of an internal audit department involves benc Sheet1 Page 2 Standard 2030 of The IIA's International Standards for the Professional Practice of Internal Auditing (Standards) states the CA 2) a risk analysis approach t department and makes incremental changes in response to changed conditions in organizational risk, acquisitions, geographi...
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- Spring '11
- internal audit department, Professional Practice of Internal Auditing