Author

IIA-Australia

Date

Topics Explored

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Extract/Description

Neglected audit areas are parts of an organisation’s activities or risks which the internal audit function may overlook or pass over when developing their internal audit plan. This may be the result of awareness shortcomings, capability deficiencies or insufficient courage to incorporate a particular activity or risk into the internal audit plan.

Key Points

1. Neglecting or avoiding particular audit areas may have negative impacts on both the chief audit executive and the internal audit function. 
2. Being thorough and courageous when developing the internal audit plan helps maintain credibility of the chief audit executive and the internal audit function. It also helps avoid the question “Where were the internal auditors?” when things go wrong.

Relevant Industries

Level of Assumed Knowledge