Definition of Internal Auditing

imgres

Internal Audit Definition

“Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes”.

— International Professional Practices Framework, The Institute of Internal Auditors, 2013

Purpose

The purpose of internal auditing appears in its definition—especially in these words: add value; improve operations; and improve the effectiveness of risk management, control, and governance processes.