Internal Audit Effectiveness Guide

screenshot of the first page of Internal Audit Effectiveness Guide

This guide can be used by internal audit to measure and improve the company’s internal controls over financial reporting.

Sample validation procedures include: obtain and read the internal audit charter; evaluate whether the charter supports the department’s role in monitoring internal controls over financial reporting; obtain and examine the department charter; determine whether the authority granted supports the role of monitoring financial reporting controls; ask the general auditor about the process of setting the internal audit plan and read the plan; and ask the general auditor and other internal auditors about their access to all functions, records, property and personnel.

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