IIA-Australia Factsheet - Internal Control Maturity Model

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Author	IIA-Australia
Date	2022
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	This factsheet contains an example maturity model based on the COSO Internal Control Integrated Framework (2013).
Key Points	If an internal audit engagement is built around the COSO internal control Components, when combined with an internal control maturity model, it can: Provide a clear conclusion on effectiveness of the various control elements. Where an audit may be performed periodically, it can show control improvement over time – refer example shown below where the solid circles indicate the current maturity assessment and dotted circles indicate maturity at time of the previous audit.
Relevant Industries	All
Level of Assumed Knowledge	Expert