This tool provides questions for organizations to consider when re-balancing and assessing the internal audit department.
Questions to consider include: Has internal audit reviewed its activities over the last several years and considered if they are overly focused on activities related to Sarbanes-Oxley (SOX)? Has internal audit’s focus on SOX compliance occurred at the expense of addressing other important business risks? Is an enterprisewide risk assessment warranted to identify and prioritize all risks in the enterprise? Does the company have a written, up-to-date internal audit charter that properly reflects the role of internal audit?