Intro to internal audit

Unbiased state of mind that free from any condition, situation and relationship that enable internal auditor make unbiased judgment.

• Independent

• Consulting

• Assurance

• Objectivity

................................. provides an assurance on the true and fair view of financial statement of client.

• Internal Audit

• External Audit

• Risk Management

• Accountant

Internal auditor gives an independent assurance and consulting on organization's :

• Financial statement, internal control and governance

• Risk management, internal control and governance

• Financial management, management control and governance

• Financial management and governance

............................. serves third parties who need reliable financial performance.

• Accountant

• Internal Audit

• External Audit

• Board of Director

........................ is an objective assessment of evidence about subject matters and provide independent opinion and conclusionThe nature and scope as decided by the internal auditor.

Internal audit is the ................................ line of defense who provides assurance to senior management and the board on the effectiveness of company's control

• First

• Second

• Third

• Last

............................. is the authorised body that provides certification, professional development and quality assurance services to internal audit profession in Malaysia.

• MIA

• CIA

• IIA

• BIA

How internal audit create values?

• By implementing compliance checking only

• By providing risk-based internal audit

• By finding management's fault

• By conducting outcome based auditing

What is the benefit of dual-reporting

• More bonus

• Reward

• Independent

• Consultation

.............................. is the freedom from conditions that threaten the ability of the internal audit activity to carry out internal audit responsibilities in an unbiased manner.

• Independent

• Objective

• Subjective

• Consulting