Essay On Internal Auditing

Introduction

Internal auditing is a process which provides assurance and consulting service like evaluate the controls, detect the risk management and governance to an entity in order to adding value to the organization. Internal auditor provides independence and objectivity appraisal and attesting on the organization activities performance, reviewing adequacy of controls, provide information for the manager or management level to make decision, aware on the any wasteful and fraud existing in an organization and they should reviews activity continually.

Institute of Internal Auditors

Institute of internal auditors (IIA) establish at the year 1977 in Malaysia, as a non-profit professional organization focus on the developing of internal auditor profession practice in Malaysia.

Vision

IIA Malaysia protect the value to the member, provide necessary and best practice to members and also provide service to the member solve problems.

Mission

IIA Malaysia mission is to lead profession in internal auditing, strengthen internal auditor by provide continuing professional education to enhance the ability, skill and knowledge for the internal auditors to performs job, setting standard for the internal auditors guideline and certification programmers.

Next, provide platform for the internal auditors to share their knowledge, information and experiences. To ensure the internal auditors profession ability to identify, evaluate, and adding value to organization and management and related parties understand practice in internal auditing. For understand the important of the internal auditing in the company and idea on the appropriate of the internal control, risk management, and also governance.

Objective

Institute of internal auditors Malays...

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...25 hours. For participation meeting, maximum 4 hours CPD per meeting and total is 20 hours

Next is examination proctor, maximum of 25 hours CPD for assist in proctoring examination and award, winners will granted maximum 20 hours CPD

CPD requirements comply commencing 1st June 2003 and members must to satisfy CPD requirement will penalty or disciplinary action.

Conclusion

In summary, we can understand internal auditor is an important for company to ensure the control is good, governance had proper manage, and risk management control is effective. Internal auditor must be independence and objectivity on the work done because if the internal auditor can’t maintain it may arise of impairment and lead company loss money. Internal is an eyes and ears of the and represent audit committee to appraisal, evaluate and identify company management effective and efficient.