IIA-Australia Factsheet - Internal Audit as a Trusted Adviser

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Author	IIA-Australia
Date	2022
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	Internal audit is there to do more than just confirm compliance and tell management what they already know. These days, audit committees and management are seeking greater value from internal audit, with a view to improving the business.
Key Points	Internal audit actively contributes to organisation success by providing information to those governing it and those managing it. The chief audit executive can make a significant contribution by participating in strategic committees and strategic initiatives and projects. Internal audit is positioned independently of line management and can therefore provide frank and fearless commentary and feedback focused on potential organisation improvement.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate