Standard purpose

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  • #240563

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    This forum is restricted to members of the associated course(s).

    yasmeen.algabasani
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    CIA part one , one of the purposes of the standard is to foster improved organizational process and operations , can you explain how? 

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  • #240564

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    Brian Hock
    HOCK international

    Hello, Yasmeen,

    As the internal audit activity does their work, the IAA should be helping to make the internal business processes (internal controls and other accounting, finance, security, purchasing….) improve. This comes from the process of doing the engagements, finding things that are not done as well as they could be and making recommendations to improve them. The IAA should also provide assistance and suggestions for improvement in the risk management process.

    So, it is not one specific thing that they need to do for this, but the combination of all of the things that they do that add value to the organization and improve the organization’s operations.

    Brian

    #240565

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    yasmeen.algabasani
    Participant
    • The nature and scope of an assurance engagement is determined by the Internal auditor ,, what does nature here mean ? 
    #240566

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    Brian Hock
    HOCK international

    This means that the internal auditor will make the decision about why the engagement is being performed and what it is that they are looking for and wanting to make a conclusion about. For example, the effectiveness of the internal controls in a certain department of the company.

    #240568

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    yasmeen.algabasani
    Participant

    Great,, thank you.

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