IIA-Australia Factsheet - Internal Audit Shared Service

This is a members only resource. Please login to access.

Author	IIA-Australia
Date	2023
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	One model for the delivery of internal audit is to establish it as a service shared with other organisations. This approach is used mostly within public sector entities.
Key Points	A reason often cited for an internal audit shared service arrangement is economies of scale – cost advantages from improved efficiency through increased production and lower cost. Organisations have different risk profiles, so simply performing the same internal audit services in each organisation is likely to lose a risk-based internal audit planning approach – may not be auditing the right things in each organisation.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate