IIA-Australia Factsheet - Internal Audit Resourcing Models

IIA-Australia Factsheet - Internal Audit Resourcing Models

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Author

IIA-Australia

Date

2023

Topics Explored

Internal Audit

Format

Factsheet

Extract/Description

There are a number of models that can be used to resource internal audit services to an organisation.  Carefully choose the resourcing model that best suits your organisation and will provide fit-for-purpose internal audit services.

Key Points

    1. Most dissatisfaction with internal audit services stems from organisations not getting what they thought they would get.
    2. When internal audit is outsourced, the Chief Audit Executive should be an in-house person and not the service provider.
    3. Conflict of interest provisions need to be put in place for both inhouse internal audit and service providers.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate