Internal Audit Community of Practice: Mission, Values, and Objectives
Explore the mission, core values, and strategic priorities of the Internal Audit Community of Practice (IA COP), focusing on supporting member countries in establishing modern and effective internal audit systems. Learn about the key objectives and outcomes of the Audit-in-Practice Working Group and their commitment to professionalism, knowledge sharing, and promoting good governance and accountability in the public sector.
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Presentation Transcript
Internal audit Community of practice Audit-in-Practice (AiP) Working Group Budapest, March 2017
Our Mission IA COP offers support to its member countries in establishing modern and effective Internal Audit system that meets international standards and best practices and is a key for good governance and accountability in the public sector Our Core Values Professionalism, dedication to reforms, commitment to sharing knowledge and experience with the community (as professional family of peers), trust, unity and respect to diversity of 23 member countries Strategic Priorities Internal Control WG - FMC implementation with emphasize on accountability and transparency (new WG) RIFIX WG - Relationship of Internal Audit with Financial Inspection and External Audit (continuing working group) Audit in Practice WG - Practical implementation of audit cycle, different type and models of audits, including IT solutions (AiP - new WG) Central Harmonization Units: challenges at different stages of reform Promotion of IACOP, including the existing knowledge products and experience gained in ongoing and previous working groups: T&C, CPD, RA, QA, Body of knowledge
Our Mission IA COP offers support to its member countries in establishing modern and effective Internal Audit system that meets international standards and best practices and is a key for good governance and accountability in the public sector Our Core Values Professionalism, dedication to reforms, commitment to sharing knowledge and experience with the community (as professional family of peers), trust, unity and respect to diversity of 23 member countries Strategic Priorities Audit in Practice WG - Practical implementation of audit cycle, different type and models of audits, including IT solutions (AiP - new WG)
AiPWG First Meeting Objectives: Expected Outcomes: Review the complete audit cycle Discuss the experience in application of International Standard for the Professional Practice of Internal Auditing (ISPPIA) 2210 Engagement Objectives Understand the theory and practice in establishing audit objectives Agree on the next steps in the AiP WG Solid understanding of the application of ISPPIA 2210 Engagement Objectives Recognition of key challenges in establishing audit objectives Establish the next steps in AiP WG 4
Building up on IACOP Knowledge products 3.INTERNAL AUDIT PROCEDURES 3.2. Execution (include a flowchart of the execution process - audit cycle) 3.2.2. Audit Objectives and Audit Scope / engagement objectives is just one component of the audit cycle A guide for auditors on how best to assess risks when planning audit work Gives preconditions for an effective internal audit - mainly developed for the purpose of strategic and annual planning principles of risk assessment can also be used for a specific audit planning 5
Lets start our Let s start our AiP journey journey AiP WG WG 6
