PricewaterhouseCoopers’ internal audit framework provides a strategic model for internal auditors and their stakeholders to understand the relationships and linkages necessary to achieve a high quality and effective internal audit function.
The framework explores:
- The relationship between stakeholders’ expectations and the organisation’s risk management priorities
- The difference between the mission of internal audit and its "value drivers"
- How value drivers provide the filter for determining the most appropriate internal audit practices for an organisation
- How core internal audit processes must be aligned with the internal audit mission and value drivers
How both planning and performance measurement must be directly driven by the value drivers and wrap around the core internal audit processes
