White Paper - Establishing an Internal Audit Function

Whitepaper

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Author

Erin Howells

BHSc, CIA, PMIIA, MAICD

Date

2026

Topics Explored

Internal Audit, Internal Audit Management

Format

White Paper

Extract/Description

Establishing an internal audit function is a pivotal advancement for an organisation and poses a challenging opportunity for the chief audit executive and internal audit team. By following the steps outlined in this paper, chief audit executives can ensure their function is strategically aligned, compliant with ‘Global Internal Audit Standards’, and positioned to deliver ongoing value.

Key Points

Establishing an internal audit function is a lengthy and time-intensive process that requires significant investment, commitment and understanding from the chief audit executive, the internal audit team, the organisation, and the board.
There are 10 key steps for establishing and internal audit function successfully.

Relevant Industries

All

Level of Assumed Knowledge

Intermediate

Aligned to Global Internal Audit Standards

Yes