IIA-Australia Factsheet - COSO-based Objectives and Scope   

IIA-Australia Factsheet - COSO-based Objectives and Scope   

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Topics Explored

Internal Audit




An engagement objective is about what the audit will deliver to management. They are broad statements developed by internal auditors that define intended engagement accomplishments. They may be broad, but should not be lengthy. Ideally, they are expressed in a way that requires one or more precise answers.

Key Points

  1. The engagement scope is about what will be looked at by the audit. In the scope, we detail what aspects of an activity are to be examined. This might be done in a table showing which COSO Components and Principles are to be examined or evaluated.
  2. The audit engagement program can then be built to include explicit consideration of the Principles, and therefore will be able to report on the in-scope portions of the COSO framework.

Relevant Industries


Level of Assumed Knowledge