IIA-Australia Factsheet - Using Internal Audit Data

IIA-Australia Factsheet - Using Internal Audit Data

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Author

IIA-Australia

Date

 2022

Topics Explored

Internal Audit

Format

Factsheet

Extract/Description

Where an internal audit function has been established for a number of years, it should have access to its own internal historical and current data concerning such things as: The control environment, Organisation risks, Potential organisation ‘hot spots’ that may be suitable for internal audit focus. This could be called ‘data within the internal audit function’ or simply ‘internal audit data’.

Key Points

    1. This data should allow internal auditors to determine the root cause of control or process deficiencies identified as part of undertaking audits.
    2. If internal audit data is appropriately captured and stored, it can be linked into online reports and dashboard reporting.
    3. Your internal audit data may enable you to provide deeper insights for the board, audit committee and executive management.

Relevant Industries

All

Level of Assumed Knowledge

Expert

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