Factsheet - Internal Audit Excellence Framework

Factsheet

Internal Audit Excellence Framework

View Factsheet

Factsheet

This is a members only resource.

Please login to access

Author

IIA-Australia

Date

2026

Topics Explored

Internal Audit 

Format

Factsheet

Extract/Description

Value-Based Internal Audit is a methodology where internal auditors deliver high-quality, forward-looking services that provide meaningful and impactful insights. It emphasises innovation, strategic alignment, objectivity — viewed from the client’s perspective. This approach integrates assurance, advisory, insight, foresight roles to support better organisation outcomes.

Value-Based Internal Audit is designed to achieve internal audit excellence. It provides a scalable, future-focused methodology for achieving internal audit excellence — applicable to small, medium and large internal audit functions alike.

Key Points

  • The history of internal audit practice has led to the current value-based internal audit era.
  • Value-based internal auditing provides benefits to the internal audit function and the organisation it serves. Today’s audit committees and executive leaders expect more - they seek a strategic partnership with internal audit.
  • This value-based methodology has been expanded into the Internal Audit Excellence Framework, a tool that forward thinking chief audit executives might consider when seeking to improve their internal audit efficiency, methods, service offerings.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

Yes