Definition of Internal Auditing
Internal Auditing, as defined by the Institute of Internal Auditors, is an independent and 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.
Internal Audit is designed to provide reasonable assurance regarding the achievement of objectives in the following categories:
Professional Standards
The Internal Audit profession is governed by the Institute of Internal Auditor’s Standards for the Professional Practice of Internal Auditing and Code of Ethics.