IIA-Australia Factsheet - Multi-Stage Audits

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Author	IIA-Australia
Date	2023
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	A multi-stage audit is used by internal audit functions in some organisations to provide agile real-time project assurance reporting. Rather than reviewing a project after it is completed and when it is too late to influence whether it will be successful.
Key Points	Each MSA stage review provides assurance and assists at critical points over the lifecycle of an implementation activity. A successful MSA adds value to the organisation. Success and value of an MSA depends heavily on co-operation and collaboration between internal audit and project staff.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate