The role of 

internal audit is to provide independent assurance that an organization’s risk

management, governance and internal control processes are operating effectively.  We must be
independent from the operations we evaluate and report to the highest level in an organization:
senior managers and governors.

Here are some types of internal audit:

1. Operational Audit
 Process
 Procedure
 System
 Internal control

2. Compliance Audit
3. Financial Audit
4. Follow up Audit
5. Investigative Audit
6. IT Audit
7. Management Audit

Process Audit (PA)

Companies that implement a Process audit (PA) system must account for a wide variety of
questions.

1. Which process areas will we audit?

 Buy
 Make
 Sales
2. How often will we audit them?
 Monthly
 Quarterly
 Half yearly
 Yearly
3. What will the process audits cover?
 Process Evaluation Audit
 Internal Quality Audit
 Layered Process Audit
 Manufacturing Audit
 Quality Assurance Audit
 Supplier Audit
4. How will we take action when we find non-conformances?
There are  4  main  phases  to an internal  audit
1. Preparation
 Notification
 Team Selection
 Gathering of Documents
 Create an audit plan
 Create and Perform with checklist
2. Performance
 Opening Meeting
 Conducting an Audit
 Audit Team Meeting
 Closing Meeting
3. Reporting
 Report should include Observation, Impact,
 For previous Query; Status checking
 Management Response
 Responsible Department
 Recommendation,

4. Follow Up