IIA-Australia White Paper - Resourcing Internal Audit

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Author	Bruce Turner AM CRMA, CGAP, CISA, CFE, PFIIA, FFin, FFA, FIPA, FIML, MAICD, JP
Date	2023
Topics Explored	Internal Audit
Format	White Paper
Extract/Description	While there is no simple formula for determining an internal audit budget and the appropriate level of resourcing, a combination of techniques can be considered to arrive at a reasonable, objective and scientific basis.
Key Points	There are a number of models that can be used to resource internal audit services to an organisation. The chief audit executive should develop a strategic roadmap aligned to audit committee’s vision for internal audit, articulating internal audit strategic priorities and guiding its evolution to further align with the organisation’s strategies, objectives, risks and assurance needs. Resourcing levels and structures should be aligned to the roadmap.
Relevant Industries	All
Level of Assumed Knowledge	Expert