IIA-Australia Factsheet - Internal Auditing

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Author	IIA-Australia
Date	2022
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	Historians have traced the roots of internal auditing to centuries BC, as merchants verified receipts for grain brought to market. The real growth of the profession occurred in the 19th and 20th centuries with the expansion of corporate business. Demand grew for systems of control in companies conducting operations in many locations and employing thousands of people.
Key Points	Internal audit Provides independent, unbiased assessment of organisation operations. Provides management with information on the effectiveness of risk management, control and governance processes. Acts as a catalyst for improvement in risk management, control and governance. Is an adviser that tells management what it needs to know, when it needs to know it.
Relevant Industries	All
Level of Assumed Knowledge	Beginner