Factsheet - Using Internal Audit Data

Factsheet

Using Internal Audit Data

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Factsheet

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This factsheet is being updated in line with the 2024 Global Internal Audit Standards. A new version will be available for members shortly.   

Author

IIA-Australia

Date

2022 

Topics Explored

Internal Audit

Format

Factsheet

Extract/Description

Where an internal audit function has been established for a number of years, it should have access to its own internal historical and current data concerning such things as: The control environment, Organisation risks, Potential organisation ‘hot spots’ that may be suitable for internal audit focus. This could be called ‘data within the internal audit function’ or simply ‘internal audit data’.

Key Points

1. This data should allow internal auditors to determine the root cause of control or process deficiencies identified as part of undertaking audits.

2. If internal audit data is appropriately captured and stored, it can be linked into online reports and dashboard reporting.

3. Your internal audit data may enable you to provide deeper insights for the board, audit committee and executive management.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

No