Practice Note on Anticipated Common Practices Relating to AICPA Statement of Form

Instructions and help about Practice Note On Anticipated Common Practices Relating To AICPA Statement Of

welcome to part 1 of introduction to internal audit part 1 will be unpacking the standards in the ippf the institute of internal auditors have provided the definition of internet audit 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 discipline approach to evaluate and improve the effectiveness of risk management controls and governance processes the key words in the definition are the provision of assurance and consulting activities and no the definition says nothing about the profession being fault finders the internal audit function will and should work hand in hand with the organization to achieve an effective governance and controls framework what are the fundamental components of any profession just like doctors lawyers and accountants a profession needs a body to govern the profession and that is exactly what th