Scope of internal audit
You'll learn what internal audit actually does and the different types of work they undertake. This video covers the scope of internal audit engagements—from value for money audits to operational, IT, compliance, and fraud investigations—and explains the three E's framework (economy, efficiency, effectiveness) that
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In this lesson
- 0:00 Scope of Internal Audit
- 0:23 Value for Money Audits Explained
- 1:29 Economy, Efficiency, Effectiveness
- 3:10 Operational and Compliance Audits
- 4:25 IT Audits and Fraud Investigations
- 7:04 Internal Audit Report Structure
- 8:10 Independence and Self-Review Threats
About this lesson
underpins many internal audit reviews. You'll understand how internal audit differs from external audit, why they can't implement controls themselves, and what makes a strong internal audit report. This is essential knowledge for AA (Audit and Assurance) and helps you grasp how internal audit functions support governance and risk management within organisations.
Duration: 9m
Transcript
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