The Internal Audit Code of Practice aims to enhance the overall effectiveness of internal audit, and its impact, within organisations operating in the UK and Ireland.
Its recommendations can be regarded as a benchmark of good practice against which organisations can assess their internal audit function.
The Code is principles-based. It is expected that the Code should be applied proportionately, and therefore smaller organisations should apply the principles on which the Code is based in light of their size, risk profile and internal organisation and the nature, scope and complexity of their operations.
Fully understanding how to practically implement each of the Code’s recommendations requires cross referencing with our existing technical guidance. In particular, the following pieces of technical guidance help to support the Code’s implementation:
|Position paper - Internal audit's relationship with external audit|