Factsheet - Operational Auditing

Factsheet

Operational Auditing

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Factsheet

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Author

IIA-Australia

Date

2026

Topics Explored

Internal Audit, Internal Audit Management

Format

Factsheet

Extract/Description

Operational audits are distinguished from other types of internal audit by having an objective to review efficiency, effectiveness, economy and ethics (known as the 4Es). It compares to a performance audit (performance auditing) in the public sector.

Key Points

1. The real value in an internal audit is determining the cause of the differences between ‘what is’ and ‘what should be’ and identifying value-adding options and improvement actions.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

Yes