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Governance, Risk, Audit & Privacy · Foundational

Internal Audit

Independent, objective assurance and consulting activity within an organization that evaluates governance, risk management, and control.

Definition

Internal audit provides the third line in the Three Lines Model and follows the IIA Global Internal Audit Standards (effective January 2025). IS auditors within it evaluate IT controls and risk. Independence is achieved through reporting to the audit committee and avoiding operational responsibilities.

Example

Internal audit reviews the effectiveness of the change management process.

Exam tip

Auditors should not implement controls they will later audit.

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