Best-practice approaches to internal auditing

BEST PRACTICE: CORE PRINCIPLES : Best practices in risk-based internal auditing -- World-class internal audit -- Continuous auditing: putting theory into practice -- Starting a successful internal audit function to meet present and future demands -- Implementing an effective internal controls system -- Effective financial reporting and auditing: importance and limitations -- Engaging senior management in internal control -- Role of internal auditing at board committee level -- Internal auditors and enterprise risk management -- The effect of SOX on internal control, risk management, and corporate governance best practice -- The internal audit role-is there an expectation gap in your organization? -- Managing the relationships between audit committees and the CAE -- Optimizing internal audit -- Total quality management and internal auditing. BEST PRACTICE: IN PRACTICE : What is the range of the internal auditor's work? -- Aligning the internal audit function with strategic objectives -- The assurance versus consulting debate: how far should internal audit go? -- Should internal auditing assess board performance? Internal auditing's contribution to sustainability -- Considerations when outsourcing internal audit -- Contemporary developments in international auditing regulation -- How can internal audit report effectively to its stakeholders? -- Has financial reporting impacted on internal auditing negatively? -- Internal audit and partnering with senior management -- How internal auditing can help with a company's fraud issues -- Internal audit planning: how can we do it better? -- Incorporating operational and performance auditing into compliance and financial auditing -- New assurance challenges facing chief audit executives. CHECKLISTS: CORE PRINCIPLES : The accounts filing process and its importance -- The chief audit executive's (CAE) roles and responsibilities -- Corporate governance and its interpretations -- The IIA code of ethics -- Independence of the internal audit function -- Internal audit charters -- Internal control frameworks: COSO, CoCo, and the UK corporate governance code -- The International Organization of Supreme Audit Institutions (INTOSAI) and their congress (INCOSAI) -- Key competencies for internal auditors -- Key components of a corporate risk register -- The key components of an audit report -- The role of the audit committee -- Sarbanes-Oxley: its development and aims -- Understanding internal audits -- What is forensic auditing? CHECKLISTS: IN PRACTICE : Adopting an internal audit capability model -- Auditing information technology and information systems -- Avoiding conflict of interest in internal audits -- Cosourcing internal audits -- Creating a comprehensive audit committee evaluation form -- Establishing a framework for assessing risk -- Internal auditing and doing business in foreign countries -- Internal auditing for financial firms -- Internal auditing for fraud detection and prevention -- Internal auditing for small and medium-sized enterprises (SMEs) -- Internal auditing for the public sector -- International and multinational internal auditing -- Preparing and executing an internal audit review -- Quality assessment of internal audits -- XBRL (eXtensible business reporting language) and internal auditing.

Provides best-practice approaches to implementing and optimizing an internal audit. Details key challenges and offers 30 step-by-step guides to identify solutions. Offers comprehensive strategies to achieve audit objectives and streamline the process. Discusses the obstacles that international auditing presents.