We've designed our Internal Audit Re-Engineering Questionnaire to enhance the effectiveness and scope of internal audit functions. By shifting the focus beyond mere financial compliance, this tool encourages a broader evaluation of operational, legal and regulatory risks, ensuring that all significant areas of enterprise risk are addressed. It provides a structured framework that helps internal audit departments realign their strategies to meet evolving stakeholder expectations while promoting operational efficiencies and safeguarding assets. With diagnostic questions and tailored sample questionnaires, this tool serves as a vital resource for organizations looking to optimize their internal audit processes and drive real-time value.

The document includes three distinct samples, each addressing critical aspects of internal audit functions. Sample 1 focuses on the evolving role of internal audit in governance, risk management and control processes, emphasizing a balanced approach between Sarbanes-Oxley compliance and broader enterprise risks. Sample 2 delves into internal audit's role in supporting Sarbanes-Oxley compliance, offering guidance on maintaining independence and objectivity while engaging in roles such as project oversight, consulting and monitoring. Sample 3 broadens the mandate of internal audit by integrating enterprise-wide risk assessments and aligning audit activities with COSO framework objectives, including operational efficiency, regulatory compliance and asset safeguarding. Together, these samples encourage organizations to revisit their audit methodologies, address changing expectations and deliver real-time value.