Internal Audit Services are conducted in accordance with the International Standard for the Professional Practice of Internal Auditing as promulgated by the Institute of Internal Auditors (IIA).
Other auditing standards may be followed as deemed appropriate for the types of audits being conducted.
Assurance services involve the objective assessment of information, facts, or data by Internal Auditing to provide an independent opinion or conclusion. The scope and nature of assurance services may include reviewing and evaluating for: operational efficiencies and effectiveness; reliability of financial and operational systems; adequacy and clarity of policies and procedures; compliance with organizational policy and national law as well as AML/CFT & P Compliance; safeguarding of assets; accomplishment of objectives and goals; or other agreed-upon procedures.
These services ensure external auditors or regulators have access to the Audit team and resources necessary to conduct their audits. The coordination through a central office also helps to ensure internal and external efforts are not duplicated and that Internal Auditing is informed of any identified issues.