Publications - Effective Internal Auditing in the Public Sector - A Good Practice Guide

Publication

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Author

Bruce Turner AM PFIIA CGAP CRMA CISA CFE MAICD FFIN FIPA FFA FIML JP

Stephen Horne PFIIA CIA CGAP CRMA FGIA GAICD BBus GradCertMgtComm GradCertFraudControl CertPublicAdmin MIPAA

Date

2020

Topics Explored

Internal Audit, Public Sector, Commonwealth, State Government, Local Government, Government, Internal Audit Management

Format

Publication

Extract/Description

This publication is primarily for department heads, chief executives or their equivalents in local councils, boards and other governing bodies, members of audit committees, managers with responsibility for internal audit, and internal audit staff.

Key Points

  1. There are unique challenges faced by internal auditors in the public sector.
  2. Governance is essential to organisational success and requires an open, trusting relationship among the board, management and internal audit.
  3. Internal audit is essential to governance and fosters trust, transparency and accountability.
    Internal audit contributes to success, positive change and innovation by delivering assurance, insight and advice.
  4. Internal audit is most effective when its resource level, competence and structure are aligned with organisational strategy, and follow IIA guidance.
  5. Internal audit contributes the most value when it is relevant, objective, attentive to risk and opportunity, and future-focused.
  6. Internal audit must be free from undue influence and demonstrate its independence by reporting functionally to the board.

Relevant Industries

Public Sector, Local Government, State Government, Commonwealth

Level of Assumed Knowledge

Intermediate