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Internal audit for the board
Practical information and guidance on internal audit for board members and corporate governance professionals. Internal audit is one of the responsibilities of the audit committee.
Need to know
In this section
Articles and features
Local government needs good internal auditors
Parish, village and town councils urgently need internal auditors to ensure they are held accountable, transparent and independently verified.
Boards urged to collaborate with internal audit as interest rates rise
The risk level posed by economic uncertainty is seen as high or very high by more than half of all businesses.
Data Analytics in Internal Audit slides
Webinar slides from the recent Internal Audit webinar
Guidance and reports
The Modern Slavery Act: Actions for internal audit
Under the Modern Slavery Act 2015 some organisations are required to prepare a section 54 Transparency in Supply Chains Statement. This guide explains the role of the organisation’s internal audit function, and where there is no such function, best practice for management to ensure all risks to the business have been assessed and the relevant controls are in place.
10 questions Internal Audit should be asking about LIBOR transition
ICAEW's Financial Services Faculty highlights 10 questions to inform the critical contribution Internal Audit can make in firm's challenging and far-reaching transition to alternative reference rates
How to audit change
Change is a feature of doing business, but managing it successfully can be complex. This guide outlines how internal audit can help project managers implement changes by adopting good practices throughout the project life cycle.
Setting priorities to establish and expand internal audit
This guide considers seven challenges commonly faced by smaller internal audit functions and provides recommendations to help heads of internal audit establish and grow an effective function that can meet its priorities.
Webinars and other recordings
Climate Assurance: The role of internal audit
This webinar will consider the range of options available to directors to obtain assurance, exploiting the existing mechanisms available through the first, second and third line of defence internally.
It never rains it pours - the challenges of auditing the cloud
The webinar will look at the challenges faced by internal auditors in auditing the cloud.
The role of internal audit in uncertain time
Join this webinar to hear about common red flags and risks that can be associated with uncertain times and learn how your organisation could use an internal audit function to address them.
The role of internal audit in uncertain times
Listen to our webinar recording and hear from a Group Risk and Internal Audit Director about the role of internal audit in uncertain times.
Introduction to data analytics for internal auditors: leveraging technology for better insights
This webinar from the Internal Audit Community will give members an overview of the fundamental principles around the use of analytics in internal audit.
Future of Audit - Internal control effectiveness
Audit is currently undergoing an unprecedented level of public scrutiny.
Climate change and TCFD – The role of internal audit
This webinar explores what TCFD means to organisations and how internal auditors must develop their skills to help their organisations adapt.
Future proof your organisation - an internal audit approach to operational resilience
This webinar explores how to develop an audit approach to deliver effective assurance as organisations progress their resilience journeys.
Disclaimer: The opinions expressed by external guest speakers in interviews or other publications included on this website are, by their nature, those of the speaker. They are not necessarily fully endorsed by the ICAEW or purport to reflect the official policies and views of the ICAEW or its members.
Bloomsbury Accounting and Tax Service
Eligible firms have free access to Bloomsbury Professional's comprehensive online library, comprising more than 60 titles from some of the country's leading tax and accounting subject matter experts. Find out who is eligible and how you can access the Accounting and Tax Service.
Recalibrating internal audit
A chapter on the scope of internal audit and best practices within internal audit reporting.
Culture, ethics and the board
A chapter focusing on the board's role in reviewing their company's culture, ethics and behaviour.
Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the Acceptable usage terms.
The Library & Information Service provides a collection of eBooks as a benefit of membership. Please note that ICSA publications are only available to ICAEW members and ACA students. Please log in to access these titles. If you are unable to access an eBook, please see our Help and support or contact library@icaew.com
Auditing for managers: the ultimate risk management tool
Guide to help managers and their teams set standards for self-auditing, risk management, compliance review, and formal disclosure reporting.
Auditing the risk management process
Guide to auditing the risk management process, including developments in risk management which are relevant to auditors.
Board audit committee communications
A complete guide to the process and profession of internal auditing. Chapter 25 looks at the Audit Committee's interactions and responsibilities regarding internal audit.
Terms of use: You are permitted to access, download, copy, or print out content from eBooks for your own research or study only, subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.
Industry press
The Library & Information Service provides a hand-picked collection of industry press articles as a benefit of membership. If you are unable to access an article, please see our Help and support page or contact library@icaew.com
Cybersecurity and data privacy: The rising expectations within internal audit
Internal auditors are increasingly expected to be more involved in ensuring cybersecurity measures will protect company and customer data. To do this, internal auditors will need to build relationships with other departments, acquire new skills and pay particular attention to controls meant to detect risks that make it past initial preventative controls.
How internal audit helps increase cybersecurity transparency for the board
Article discusses how internal audit can help the board see an accurate picture of cyber risk
Adapting to the dynamic risk environment
The article discusses the need for internal audit teams to modernize practices, processes and methodologies to effectively assess risks in today's digital age. To upgrade the risk management capabilities of organizations, advances in digital, cloud, mobile and visualization technologies can help. With a dynamic risk assessment approach, companies can identify changing risks in real time and reprioritize coverage of risk.
Terms of use: You are permitted to access articles subject to the terms of use set by our suppliers and any restrictions imposed by individual publishers. Please see individual supplier pages for full terms of use.
Useful links
Harnessing the power of internal audit
This IIA guidance is designed to help the audit committee and other stakeholders to harness the power of internal audit for the good of their organisations.
Audit, risk and internal control
The FRC published the revised Guidance for board effectiveness in July 2018. Section 4 Audit, risk and internal control look as the audit committee's (or risk committee's if separate) responsibility in this area.
The role of internal audit in non financial and integrated reporting
This report explains integrated reporting and gives benefits and challenges as well as looking at internal audit's role in this area with emerging practice demonstrated in case studies.
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