The Institute of Internal Auditors believes that organizations are best served by a fully resourced and professionally competent internal auditing staff providing value-added services critical to the efficient and effective management of an organization.
This book addresses the area of professional competence required of internal auditors. It is designed primarily for lecturers, and for students of internal auditing at undergraduate and postgraduate level intending to pursue a career in internal auditing, as well as those with a specialist interest in governance, risk and control issues for organizations. The basic concepts, philosophy and principles underlying the practice of internal auditing, including the relationships between the internal auditor, management and the external auditor, are covered in this book.
In addition, students will gain a knowledge and understanding of the nature of an organization, as well as risk management and the role of internal auditing in managing organizational risks and understanding current developments in corporate governance in both the public and private sectors.
The book will also prove an invaluable aid to those studying for the Certified Internal Auditor professional qualification, since it addresses the syllabus requirements of the Institute of Internal Auditors and the Standards for the Professional Practice of Internal Auditing and Competency Framework for Internal Auditors. The inclusion of the IDEA© CD with the educational case study is an added bonus, exposing students to a hands-on application of CAATs.
The book represents a practical integrated approach to the Institute of Internal Auditors’ recommended internal audit approach, and how this approach can be implemented within an internal audit department in a cost-effective manner. Accordingly, it may be useful as a practical reference manual during internal audits.