Internal audit function definition

Internal audit function means a person or persons that provide independent, objective and reasonable assurance designed to add value and improve an organization’s operations and accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.

Internal audit function means the arrangements agreed between the System Council and the System Management Board to provide independent and objective assurance and advisory services to the System Council and the System Management Board.

Internal audit function means the internal audit function of the Company.

Examples of Internal audit function in a sentence

• Internal audit function – A function of an entity that performs assurance and consulting activities designed to evaluate and improve the effectiveness of the entity’s governance, risk management and internal control processes.

• Internal audit function has been outsourced to independent firm of Chartered Accountants who submit quarterly reports to the Board.

• Internal audit function monitors the internal control system for financial reporting, which encompasses the examination and evaluation of the adequacy and effectiveness.

• The potential benefits of an Internal audit function should be assessed and compared against the estimated costs.

• The Audit committee and Board provides necessary oversight and directions to the Internal audit function and periodically reviews the findings and ensures corrective measures are taken.

More Definitions of Internal audit function

Internal audit function means a person or persons that pro- vide independent, objective and reasonable assurance designed to add value and improve an organization's operations and accomplish its ob- jectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and gover- nance processes.

Internal audit function means the arrangements agreed between the System Council and the CGIAR System Board to provide independent and objective assurance and advisory services to the System Council and the CGIAR System Board.

Internal audit function means a person or persons that pro- vide independent, objective and reasonable assurance designed to add value and improve an organization's operations and accomplish its ob-

Internal audit function means a person or persons that provide independent, objective

Internal audit function means a person or persons that provide independent, objective, and reasonable assurance designed to add value and improve an organization’s operations and accomplish its objectives by

Internal audit function means a person who provides independent oversight designed to improve an organization's operations and who accomplishes this oversight by

Internal audit function means a person who provides independent oversight designed to improve an organization's operations and who accomplishes this oversight by using an objective approach to evaluate and improve risk management, control and corporate governance. [NOTE: This paragraph will be effective 1/1/2019.]