stating basic principles that represent the practice of internal auditing
Fostering improved organizational processes and operations
establishing the basis for the measurement of internal audit performance
Guiding the ethical conduct of internal auditors
Fostering
The proper organizational role of internal auditing is to
Serve as the investigative arm of the board
Perform studies to assist in the attainment of more effcient operaions
assist the external auditor to reduce external audit fees
Serve as an independent, objective assurance and consulting activity that adds value to operations
proper