The Institute of Internal Auditors has issued a practice guide for providing competent internal audits in the public sector.
The new practice guide, Creating an Internal Audit Competency Process for the Public Sector, provides advice on developing, implementing and sustaining an internal audit competency process to ensure organizations have the knowledge, skills and other competencies needed to complete their planned audits and to support other audit function activities.
The guide recognizes the characteristics that influence the effectiveness of the audit function in the public sector, including demands for a high level of transparency and performance, the absence of a profit motive, complex legal frameworks for governing bodies, and more.
“I spent the lion’s share of my career auditing in the public sector,” said IIA president and CEO
Richard F. Chambers in a statement. “As a result, I have a particular appreciation for what this practice guide offers government audit departments as they work to protect taxpayer interests.”
The guide defines key concepts and identifies related standards, then lays outs a five-phase process, including vision, oversight, direction, competency, and monitoring.
It also includes examples of two public-sector strategies in the city of Austin, Texas, and the Australian Government Central Agency — and a list of additional resources.
The practice guide is available for download at no cost to IIA members and can be purchased by non-IIA members.
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