Treasury Internal Audit Framework Revised ... - National Treasury

2.5 Composition and Membership........................17
2.5.1 Composition ...................................................17
2.5.2 Qualities .........................................................17
2.5.3 Skills and Experience .....................................18
2.5.4 Independence of Members.............................19
2.5.5 Appointment of Chairperson...........................20
2.5.6 Term of Office .................................................20
2.5.7 Induction of Members.....................................21
2.5.8 Annual Reporting Requirements ....................23
3 Establishment of IAA ......................................25
3.1 Background ....................................................25
3.2 Planning the IAA.............................................26
3.2.1 Identifying the CAE.........................................26
3.2.2 Independence and Objectivity ........................27
3.2.3 The IA Charter ................................................30
3.3 Organising the IAA .........................................31
3.3.1 Planning .........................................................31
3.3.2 The Audit Plan and Process ...........................31
3.4 Developing an Internal Audit Strategic Plan ...32
3.4.1 Understanding the Environment (Step 1) .......32
3.4.2 Strategic Overview (Step 2) ...........................32
3.4.3 Detailed Analysis (Step 3) ..............................33
3.4.4 Consolidated Risk Reporting (Step 4) ............34