
sibilities for corporate governance. Internal audit professionals
perform a top-down review of the company’s associated busi-
ness, operating, and financial risks – and strengthen controls to
better manage those risks. The nature of internal auditing is
such that it has to remain independent from an institution’s
core business processes. Consequently, this is one aspect of risk
management in which process outsourcing is commonplace
today.
Internal audit outsourcing may cover the management and
execution of every aspect of internal auditing including: defin-
ing the role and responsibilities of internal audit, organization
and staffing, scope of examinations, ...