Internal audit plan starts with the establishment of the internal audit department in an organisation. Establishing an internal audit department can be a daunting task and if not well managed the department may not meet the anticipated objectives.
Internal audit department is unique from other departments and its set up requires the management to go through a certain process when setting it up.
If an internal audit department is to successfully discharge its duties, it needs to be staffed with personnel who have high level analytical skills, good communication and negotiation skills.
Setting up an effective department requires critical thinking to ensure organizational risks are adequately and accurately identified for sustainability of the business.
Internal audit department should be fairly strong and high in reporting rank than other departments in order to safeguard its independence and efficiency in providing its advisory services to the organization.
Have A Great Story About setting up an internal audit department?
Setting up an internal audit department requires one to share information with other organization stakeholders. Share your thoughts, tips or reviews on past experiences or considerations one may make when starting starting an internal audit department.
What Other Visitors Have Said
Click below to see contributions from other visitors to this page...
Best staff for internal audit department Not rated yet Internal audit department should have staff with diverse backgrounds. Of most importance is certainly finance and IT.
I'm an internal auditor in a group …
