New IA
IA Clinic
March 30, 2013
Definition of Internal Auditing
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, disciplined approach to
evaluate and improve the effectiveness of risk
management, control, and governance processes
Early stage...
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Accounting and external auditing
were major mechanism
Internal auditing was developed as a
separate specialism task of
accountant
Focus on financial transactions (Tick
and Mark)
Thousands of transactions
Report to finance director/ manager
Recent history
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The Institute of Internal Auditors was
founded in 1941in New York
Created the systematic body of
knowledge (framework)
Expanded to system- based audit
Review of Input, Process and Output
Still financially focus
At present
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Risk -based audit
Focus on what really matters
Control assurance framework
Risk Management
Corporate Governance
Consultancy
International Standards
 International
Professional
Practices Framework (IPPF)
• Attribute Standards
• Performance Standards
• Implementation Standards
 Code
of Ethics
• Integrity
• Objectivity
• Confidentiality
• Competency
Certificates
 Certified
Internal Auditor (CIA)
 Certified Fraud Examiner (CFE)
 Certification in Control
Self-assessment (CCSA)
 Certified Financial Services
Auditor (CFSA)
…..and more
Various types of Internal Audit
 In
house teams
 Outsource
 Partnership of both
Types of Auditing
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Financial Auditing
Operational or Performance Auditing
Compliance Auditing
Management Auditing
Information Technology Auditing
Special Auditing
Integrated audit
Internal Audit Process
Preliminary Survey
การเตรียมการตรวจสอบ
ผลการประเมินความเสี่ยง
ผลการประเมินความเสี่ยง
แผนการ
ตรวจสอบ
ติดตามผล
การตรวจสอบ
ข้อตรวจพบ
แผนการ
ปฏิบตั ิงาน
รายงานผล
การตรวจสอบ
ปฏิบตั ิงาน
ตรวจสอบ
หารือ
หน่วยรับตรวจ
Formal Process of work
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Plan
Prepare
Document
Evaluate Controls
Test Controls
Field work – substantive test
Report
Follow up
Scope of audit work
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Reliable and Completeness of
Financial Information
Working systems which have impacts
on performance, policy, strategy and
legal issues
Asset Management
Effectiveness, Efficiency and Economy
Compliance with laws and regulations
Benefits of being IA
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Challenging
Exciting
Meet lots of people
Improve your communication and
personal skills
Best training ground for being top
manager
Because…
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It’s not just about finance!!!
All aspects of the organization
Everyday is different
Meet people well above your own
status
They respect your opinion
Know more about your organization
But it’s also…
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Need professional skills
Confidential
Hard work
Thought provoking
Stressful
Re-active
Time consuming
Competencies needed for
internal auditors
Inherent Personal Qualities
Integrity
Passion
Work ethic
Curiosity
Creativity
Initiative
Flexibility
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Knowledge and Skills
 Expertise in more than
one area
 Technology
 Communication
 Analytical Thinking
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Thank you