Internal Audit Function Management

Develop and manage the Internal Audit function



Competency Area

Internal Audit


Manage staff in engagement team

Deploy staff with relevant competencies to achieve engagement objectives

Play a key role in annual audit planning processes

Delegate tasks in a constructive and supportive manner

Coach staff to enhance competence and professional development

Determine the relevant continuing rofessional development necessary to keep staff effective at work

Conduct effective performance appraisals of internal audit teams against key performance indicators

Manage staff and internal audit operations

Establish internal audit (IA) audit charter, IA terms of reference and service delivery approach

Review and adjust the IA team skills mix and diversity according to organisation's objectives and risks

Lead and assess annual risk analysis to formulate risk-based audit plans

Develop and implement plans for professional and career development of IA team

Determine adequate budgets to support IA planned activities

Establish clear performance standards for internal auditors and the IA function

Establish appraisal systems and conduct performance appraisal of IA teams

Establish recruitment systems that result in competent performers being hired

Manage board, audit committees and senior management on internal audit matters

Manage talent, assess effectiveness of policies and procedures of Internal Audit (IA) function

Work with stakeholders to formulate strategies for internal capability development

Manage workplace culture and the effect of culture on staff morale

Drive talent development and retention strategy within the department

Review policies and procedures in the IA function for effectiveness

Identify areas of improvement in the IA