Management of the Internal Audit Activity
Your business will need to be able to demonstrate that:
1. Those involved in the enactment of the internal audit are fully compliant with its code of ethics and standards
2. In every possible sense, the internal audit is conducted strictly in line with the Standards and its implied Definitions
3. Its achievements reflect the aims and responsibilities outlined in the internal audits charter
Overall responsibility for overseeing the above must be deferred to the company/organisation’s Chief Executive or someone occupying an equivalent position of authority.
When you arrange an internal audit you may wonder what is required of your business during the process. Is there anything you need to do? What should you be providing your auditor with?
There are a few things you should have prepared for your audit, but generally the auditor will ask for additional information when they need it.
What You Should Have Ready
There are a number of things you need to have to hand for your internal auditor. It is best to have these readily available, as it will save time for you and your auditor:
- Your current audit timetable
- Process manuals should be provided. These should outline your system and how it interacts with the processes implemented
- The reports left by your previous auditors. When your last internal audit was done the auditors will have given you a report on their findings and what has to be done. Your new auditor will need this to see if any of these issues have been looked at.
What You May Be Asked For
During the internal audit the auditor may request certain information, or ask for certain interactions with your staff.
The information will vary depending on what is being looked at during the audit process, samples of transactions and examples will be requested to verify compliance and conformance to procedures. They will also require meetings with various staff members including higher level staff members as they try and assess what the relationship is between the average worker and management.