Page 20 - Internal Auditor Middle East - December 2017

Internal Auditor

BY: AlShareef Marwan AlKouli Edited By: James Tebas
My Internal

Auditor is

My Internal

Consultant

The Institute of Internal Auditors (IIA)
definee internal auditing as ‘independent,
objective assurance and consulting activity
designed to add value and improve an
organization’s operations’. It helps an
organization to accomplish its objectives
by bringing a systematic, disciplined
approach to evaluatine and improvine the
effectiveness of risk management, control,
and governance processes.
In most cases The internal audit function
has substantially changed in recene
years from a ‘policemant to an internal
consultant, with a governanc, and risk
focus. 2. The Internal Audit Charter should analyze processes from end to end
have a separate paragraph about the instead of focusing on minutia.; and
But with all of the IIA’s efforts management consultation services the Internal Audit
still sometimes look to internal auditors function can provide 8. Auditors must at all times keep in
as policeman, perhaps for the following mind the Code of Ethics governing
reasons:- 3. Internal Auditors should still be truly such projects, particularly the need to
independent and not influenced by any balance consulting with independence.
The attitude of some auditors, who still
focus merely on inspection and finding internal conflicts that might exisi These points will help the auditor to
mistakes 4. Auditors must be professional and well provide professional consultation to
educated, knowledgeable about the company management, enabling them to
An outdated mentality still present in
the governance of some Internal Audit business and come with a proactive and trust the quality of work the internal audit
function; an positive attitude; team can provide.
poor education and orientation for new 5. Auditors must develop enhanced Managing the balance
auditors joining their team. negotiation, communication and softer But after all, isn’t Internal Audit an
skills to better work alongside the
Internal Audit as an Internal Consultant independent assurance function?
business, as well as developing much
I believes the Internal Auditor is uniquely deeper technical knowledge about the To further enhance Internal Audit’s value,
placed in any organization to provide business itself; the Audit Committee needs to be properly
practical consulting advice to Management. informed about all the consulting services
However, in order to reach that enhanced 6. Audit teams must be prepared to that the Internal Audit Function has
level of maturity there are a few steps any address risk and provide value-add, provided as part of quarterly reports
organization must consider:- practical recommendations
The Audit Committee can then ensure that
1. The Internal Audit function should 7. Proper planning must take place in line any consulting services do not compromise
hold itself out within the organization with IIA standards, and audit scoping the independency of the Internal Audit
as an internal consultant; should include the ‘big pictured, function, as well ensuring these value-add

18 INTERNAL AUDITOR - MIDDLE EAST DECEMBER 2017