Standards and Guidance

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Definition of Internal Auditing

"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."

Source: The Institute of Internal Auditors

Mission of Internal Audit

"To enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight."

Source: The Institute of Internal Auditors

Core Principles for the Professional Practice of Internal Auditing

  • Demonstrates integrity.
  • Demonstrates competence and due professional care.
  • Is objective and free from undue influence (independent).
  • Aligns with the strategies, objectives, and risks of the organization.
  • Is appropriately positioned and adequately resourced.
  • Demonstrates quality and continuous improvement.
  • Communicates effectively.
  • Provides risk-based assurance.
  • Is insightful, proactive, and future-focused.
  • Promotes organizational improvement.

Source: The Institute of Internal Auditors

Standards & Guidance

International Professional Practices Framework (IPPF)