Internal audit

Urton Anderson, Margaret Christ

Research output: Chapter in Book/Report/Conference proceedingChapterpeer-review

1 Scopus citations

Abstract

The Institute of Internal Auditors (IIA), the global professional association for the practice of internal auditing, defines the internal audit function (IAF) as an assurance and consulting activity implemented to evaluate and improve the effectiveness of the governance, risk management, and control (GRC) processes within the organization. In particular, the IAF’s role is to provide objective assurance and insight regarding GRC processes to two different groups: (1) those charged with organizational governance (e.g., executive management and the board); and (2) those managing the organizational operations (e.g., operational managers, and staff functions). The IAF provides value to each of these groups differently, with the former group primarily seeking assurance, and the latter group looking for insight and recommendations. In this chapter, we examine the IAF’s relationship to each group as a framework for our discussion of how these relationships have evolved over time, what researchers have learned regarding internal auditing, and what questions remain unanswered.

Original languageEnglish
Title of host publicationThe Routledge Companion to Auditing
Pages230-239
Number of pages10
ISBN (Electronic)9781136210358
DOIs
StatePublished - Jan 1 2014

Bibliographical note

Publisher Copyright:
© David Hay, W. Robert Knechel and Marleen Willekens.

ASJC Scopus subject areas

  • General Economics, Econometrics and Finance
  • General Business, Management and Accounting

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