INTERNAL AUDIT FUNCTION

are followed and that management takes appropriate corrective action in response to internal control weaknesses identified by internal auditors. An effective internal audit function provides vital assurance to a bank’s board of directors and senior management (and[r]

and the adequacy of the control and oversight of these risks such as: (i) Application and effectiveness of risk management procedures and risk assessment methodologies, as applied to credit risk, market risk, liquidity risk, operational risk (including information technology and business continuity[r]

conducting business activities. These include external risks such as changes toglobal, national and economic climates, as well as technological, legal andpolitical changes. Inherent risks also include internal factors that warrantspecial attention including changes in operating systems, new p[r]

an effective internal audit function that independently evaluates the control systems withinthe organisation. External auditors, on the other hand, can provide an important feedback onthe effectiveness of this process. Banking supervisors must be satisfied that effective policie[r]

C02 11/24/2010 8:42:25 Page 24units in any company are focused on providing customer service, whetherthe client is internal or external. The last thing an operational unit wantsis to have the assigned audit team bothering them or asking questions whenits employees are trying to do thei[r]

Barriers and Catalysts to Effective InternalAudit in the Ghanaian Public SectorAuthor(s):Joseph M. Onumah,Redeemer Yao KrahVolume12 Part A Editor(s): Venancio Tauringana, Musa Mangena ISBN: 978-1-78190-222-6 eISBN: 978-1-78190-2233Citation:Joseph M. Onumah, Redeemer Yao Krah (2012), Barriers and Cat[r]

The primary reason for not establishing an Internal Audit function appears to be because its establishment is not required by the Group or Parent company. The second most common reason is that all IA activities are carried out by the group audit. No single respondent answ[r]

especially for SEC registrants, many might expect that Internal Audit functions would now be moving toward a more limited role, focusing more on the testing of higher risk and/or more complex areas. But our survey indicates that the number of companies where Internal Audit