BT podcast - assuring the quality of the internal audit
function
Assurance engagements for functions over which the chief audit
executive has responsibility must be overseen by an outside
party.
Competent advice and assistance must be obtained if the internal
auditors lack the relevant competencies needed to perform audit
engagements.
External assessments must be conducted at least once every five
years by a qualified, independent reviewer or review
team.
The chief audit executive must establish risk-based plans to
determine the priorities of the internal audit activity.
Internal auditors must refrain from assessing specific
operations for which they were previously responsible.
The chief audit executive must establish risk-based plans to
determine the priorities of the internal audit activity.
The internal audit activity must evaluate the effectiveness and
contribute to the improvement of risk management processes.
The internal audit activity must evaluate the adequacy and
effectiveness of controls in responding to the risks within the
organisation.
The internal audit activity should evaluate and contribute to
the improvement of risk management, control, and governance
processes.
