Despite the impotence of internal auditors
satisfaction especially satisfaction with pay as an essential factors which may affect their performance as well as affect IA effectiveness, the impact of internal auditors
' pay satisfaction on the IA effectiveness have not been examined by prior studies.
"Continuous Auditing: An Effective Tool for Internal Auditors
The materiality or the misstatement threshold used by the external auditor differs from the one used by the internal auditors
. Ex: as per the table below the materiality of the external audit firm is $21,945, therefore misstatements that fall below this amount separately or aggregately are considered immaterial.
c) The internal auditor
may consider becoming a whistle-blower.
"These days, internal auditors
are also active in riskmanagement assessments and identify the key controls in place and test those controls to make sure they are working properly ...
* The internal auditor
must have adequate knowledge, skills and assets necessary for the performance of auditing work.
have always been concerned with managing audit risk, which is the risk that the auditor will fail to provide effective, timely, and efficient assurance and consulting support to company management and its board of directors (Albrecht, Stice, and Stocks, 1992).
The second core characteristic is that the internal auditor
's independence is guaranteed in determining the areas to audit; the scope of the audit; the nature, timing, and extent of audit tests; and the reporting of background information, findings, and conclusions.
Academic research in internal audit provides best practices and pertinent information for external and internal auditors
. Below, we summarize recent internal audit research from leading academic accounting journals.
In "The Effects of Internal Audit Report Disclosure on Investor Confidence and Investment Decisions," Holt and DeZoort investigated whether increased internal auditor
transparency affected investor confidence in the reliability of financial reporting and investing-recommendation decisions (International Journal of Auditing, April 2009, pp.
This special program will feature course director and lecturer Mary Jane Rosales, former president of The Institute of Internal Auditors
in the Philippines.