IIA-Australia Factsheet - Assurance Types

Factsheet - Assurance Types

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Author

IIA-Australia

Date

 2022

Topics Explored

Internal Audit

Format

Factsheet

Extract/Description

Internal auditing uses the word ‘assurance’ in its ordinary English-language sense and does not use terms like ‘reasonable assurance’, ‘limited assurance’ or ‘negative assurance. Internal auditors are always expected to have ‘sufficient, reliable, relevant, and useful information’ to support conclusions or opinions offered.

Key Points

  1. An internal auditor is expected to form a conclusion in relation to the engagement objectives and internal audit reports. Purely negative or exception-based reporting is not encouraged.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate