Treasury Internal Audit Framework Revised ... - National Treasury

Establishment of IAA
3.3 Organising the IAA
3.3.1 Planning 14
The CAE needs to direct, supervise and
manage the activities of IAA. These include
amongst others planning, resource management,
implementation of operating policies
and procedures, review of work, coordination
of assurance activities and quality assurance.
3.3.2 The Audit Plan and Process
The operational IA plan should be based on
an assessment of risks and exposures that
may affect the organisation and should be
done at least annually in order to reflect the
most current strategies and direction of the
organisation. Risk assessment should be
evaluated, alignment of the operational plan to
the overall objectives of the organisation
should be ensured to add value. A risk based
audit plan ensures that audit activities
effectively focus on those areas where the risk
of exposure is greatest.
The CAE must ensure that strategic and
operational plans are developed annually,
approved by the AC and accepted by the AO.
14 ISPPIA 2010
31 Internal Audit Framework