internal audit function
IAF The department within an organization responsible for internal auditing. The IAF is headed by a * Chief Auditing Executive.

Auditor's dictionary. 2014.

Look at other dictionaries:

  • Internal audit — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts  …   Wikipedia

  • internal audit charter — A document that sets out the purpose, authority, responsibilities, and scope of work of an *internal audit function (IAF). The charter is often considered to be an audit function’s constitution, and its subject matter typically includes some or… …   Auditor's dictionary

  • internal audit Shop — An alternative term for *internal audit function …   Auditor's dictionary

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  • audit cycle — The process of conducting an audit or a series of audits over time. In external auditing, the audit cycle tends to be scheduled in several important phases: (i) interim visits to perform *analytical and *compliance reviews; (ii) attendance at… …   Auditor's dictionary

  • audit universe — The total potential scope of work within an auditor’s remit. *Audit planning involves the allocation of resources to individual *auditable units within an audit universe, normally on the basis of a combination of the following: (i) *materiality… …   Auditor's dictionary

  • audit schedule — 1. A formal list of auditing assignments determined by an *internal audit function’s planning process. The audit schedule’s coverage may extend to *long term planning of three, five, or more years. 2. An alternative term for *work paper …   Auditor's dictionary

  • audit department — An alternative term for *internal audit function …   Auditor's dictionary

  • audit shop — An alternative term for *internal audit function …   Auditor's dictionary

  • Audit management — is responsible for ensuring that board approved audit directives are implemented. Audit management oversees the internal audit staff, establishes internal audit programs, and hires and trains the appropriate internal audit personnel. The staff… …   Wikipedia

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