Internal Audit Professional Practice

This chapter discusses the importance of internal audit policies and procedures. These help guide internal auditors to operate consistently and professionally, and provide assurance to audit clients that audits are being conducted fairly and impartially. Police and procedures set a benchmark against which internal auditors can operate. The level of formalization will vary depending on the size of the internal audit function, but even single auditor activities need to ensure they approach each engagement in a structured and systematic manner.