09-12-2004, 12:02 AM
Dear Pracs,
Infact the in the pakistani environment internal audit function is not at that position where it is supposed to be, i havn't seen any company following the guidelines of Institiute of Internal Auditors, but i have seen various companies who have well established system of internal audit, they follow the guidelines provided by their head of insternal audit.
as far as the reporting is concerned, the head of I.A. dept. reports directly to chief executive / chairman of the co. or in some cases the head of I.A. circulates his internal audit report to board of directors and the same is discussed in upcoming BOD meeting.
Yes, there are internal audit manuals, if the company has its own internal audit dept. (i mean some companies outsource the same)
SMR
Infact the in the pakistani environment internal audit function is not at that position where it is supposed to be, i havn't seen any company following the guidelines of Institiute of Internal Auditors, but i have seen various companies who have well established system of internal audit, they follow the guidelines provided by their head of insternal audit.
as far as the reporting is concerned, the head of I.A. dept. reports directly to chief executive / chairman of the co. or in some cases the head of I.A. circulates his internal audit report to board of directors and the same is discussed in upcoming BOD meeting.
Yes, there are internal audit manuals, if the company has its own internal audit dept. (i mean some companies outsource the same)
SMR
