Internal Audit Effectiveness Guide

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This guide can be used by internal audit to measure and improve the company’s internal controls over financial reporting.

Sample validation procedures include: obtain and read the internal audit charter; evaluate whether the charter supports the department’s role in monitoring internal controls over financial reporting; obtain and examine the department charter; determine whether the authority granted supports the role of monitoring financial reporting controls; ask the general auditor about the process of setting the internal audit plan and read the plan; and ask the general auditor and other internal auditors about their access to all functions, records, property and personnel.

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