White Paper - Internal Audit Strategy – A Case Study

Whitepaper

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Author

Abdulaziz Al Hidery

MAcc, MITMgt, BAcc, CIA, CRMA, SOCPA

Saifeldin Ali

BCom, CIA, CRMA

Date

2024

Topics Explored

Internal Audit

Format

White Paper

Extract/Description

The purpose of this White Paper is to show, through a practical case study, how an internal audit function can continually move forward as the organisation changes and can successfully adapt internal audit services to help build a better organisation. This White Paper describes the methodology applied to develop an Internal Audit Strategy for Internal Audit Division at Elm Company. It has practical application to all internal audit functions who seek to stay in front with best practice solutions specifically designed for their organisation into the future.

Key Points

1. An internal audit strategy can be defined as ‘The strategy adopted to set internal audit up as a key agent of change delivering the right internal audit services aligning with contemporary internal audit practice and meeting stakeholder expectations’.

2. An internal audit strategy is not the internal audit plan of what will be audited – an internal audit strategy is a separate document.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

Yes