Definition of Internal Auditing
The Definition of Internal Auditing is authoritative guidance
for the internal audit profession from the Global Institute of Internal Auditors.
It is part of the International Professional Practices Framework.
The Definition of Internal Auditing is the statement of fundamental purpose, nature and scope of internal auditing.
The Definition of Internal Auditing
The current Definition of Internal Auditing was approved by the Institute's Global Board of Directors in 1999.
It states:
Internal auditing is an independent, objective assurance and consulting activity
designed to add value and improve an organisation's operations.
It helps an organisation accomplish its objectives
by bringing a systematic, disciplined approach
to evaluate and improve the effectiveness
of risk management, control, and governance processes.
How the Definition is created and approved
The Definition is developed and updated by a task force appointed by the Global Board of Directors.
There will be a public exposure period of 90 days during which time the draft will be distributed to members, stakeholders, and other professionals and comments invited from them.
The Board of Directors is responsible for the final approval of the Definition.