11/18/2018 1 TALLAHASSEE CHAPTER Internal Auditing Overview Emphasize the Basics, Elevate the Standards November 27, 2018 9:00 a.m. to 9:50 a.m. Joe Maleszewski, City Auditor City of Tallahassee TALLAHASSEE CHAPTER TALLAHASSEE CHAPTER Outline • History • Definition of IA • Talent Gap – Pulse…. • Add Value • Internal v. External • Three Lines of Defense • Attributes of good auditor/shop
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11/18/2018
1
TALLAHASSEE CHAPTER
Internal Auditing Overview
Emphasize the Basics, Elevate the StandardsNovember 27, 2018
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
Definition of Internal Auditing
TALLAHASSEE CHAPTER
Standards
11/18/2018
5
TALLAHASSEE CHAPTER
Results suggest that alignment of
stakeholder expectations, and matching
skills and capabilities to these
expectations, helps internal audit enhance
the value delivered to the organization.
TALLAHASSEE CHAPTER
Trusted
Advisor
(Seat at the Table)
Assurance
Provider
Capable, but
Poorly Aligned
(A Well Kept Secret)
Rela
tio
nsh
ip A
cu
men
Risk, Control & Governance Expertise
Engaged, but
Not Strategic
(A Good Lunch
Partner)
"On internal audit, audit committees are still looking for greater value."2015 Global Audit Committee Survey from KPMG's Audit Committee Institute
TALLAHASSEE CHAPTER
Challenge
“There is no more enduring
challenge for internal auditors
than achieving and maintaining
alignment with the expectations
of our key stakeholders.”
Richard Chambers, President and CEO of the IIA, February 2015