IIA-Australia Factsheet - Internal Audit Auditing in Line 2 and Line 3

Author	IIA-Australia
Date	2024
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	This Factsheet seeks to describe the auditing standards applicable to audits performed by Line 2 management systems audit and Line 3 internal audit.
Key Points	Line 3 internal audit is independent of management, but Line 2 management systems audit activities are reported to management so cannot be considered to be independent. A management system audit conducted according to the ‘Global Internal Audit Standards’ will conform with the requirements of the relevant ISO systems. However, the standards prescribed by ISO for management systems audits do not come up to the requirements of the ‘Global Internal Audit Standards’.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate

IIA-Australia
2024