Factsheet - Internal Audit Workpaper Reviews

Factsheet

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Author

IIA-Australia

Date

2025

Topics Explored

Internal Audit, Internal Audit Management

Format

Factsheet

Extract/Description

Internal audit workpaper reviews are required for every internal audit service, whether an assurance service or an advisory service. There are different types of workpaper reviews (stage 1 or stage 2).

Key Points

1. Stage 1 reviews are performed for every internal audit service and involves review and sign-off by the engagement supervisor.

2. Stage 2 reviews are optional (not required by the GIAS) and should be applied using a risk-based approach. Some of these approaches are outlined for consideration.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

Yes