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What is the process an organization normally follows when setting up a co-sourced internal audit function?

Internal Audit Economics
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Question added by Eda Jun
Date Posted: 2016/09/29
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Mohammed Fawzi
by Mohammed Fawzi , Internal Audit Section Head , Nesma Holding LTD

There is ten steps to a strategically focused internal audit function as follows :-

1- Stakeholder Expectation

2- Mission Statment

3-Strategic Plan

4- Risk Assessment

5- Establish Budget

6-launch Fieldwork

7-Assess needed skill sets

8-Develop infrastructure

9-Establish Communication Protocols

10-Measure Results

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