Internal Audit
Internal auditing
In Domain I, the Global Internal Audit Standards (GIAS) 2024 set out the purpose of internal auditing: internal auditing strengthens the organisation's ability to create, protect and sustain value by providing the board and management with independent, risk-based and objective assurance, advice, insight and foresight. The earlier IPPF 2017 definition described internal auditing as an independent, objective assurance and advisory activity designed to add value and improve an organisation's operations, with the function systematically evaluating and improving the effectiveness of governance, risk management and control processes.
Source: IIA Global Internal Audit Standards 2024