Internal Audit Policies and Procedures

In today's fast-paced business environment, having a well-defined internal audit policies and procedures manual is non-negotiable. Our team of internal audit experts has experience with creating robust governance documentation for internal audit functions across a variety of industries. 

Why are Internal Audit Policies and Procedures Important?

1. Risk Mitigation and Management: Policies and procedures assist auditors in ensuring that audit objectives are aligned with the organization’s risk management objectives and strategy. 

2. Improved Efficiency and Consistency: Well defined policies and procedures enhance audit efficiency. They ensure that audit processes are applied consistently across projects and teams, and that teams have a clear understanding of the expectations. Additionally, they can assist in training new team members. 

3. Continuous Improvement: Internal Audit functions are required to maintain a Quality Assurance and Improvement Program (QAIP) regardless of size or industry of the organization, as mandated by the Institute of Internal Auditor’s (IIA) International Professional Practices Framework (IPPF). In defining internal audit policies, procedures and standards, audit functions can more easily review these items and identify areas for improvement that align with the IIA’s standards. 

We tailor our solutions to the needs of our customers. We can either assist with the creation of new policy and procedure documentation or assist in ensuring that existing documentation is updated appropriately to represent current practices.

Regardless of the starting point for policies and procedures, Clark Schaefer Consulting adds value by applying our expertise and experience to ensure that the final product(s) capture organizational and functional objectives, standards and processes in alignment with the standards of the IIA. 

Internal Audit

Comprehensive Internal Audit Solutions