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Internal Audit Pocket Guide
This document is an abbreviated version of the Internal Audit Activity Guide for Boards of Directors of Microfinance Institutions.
The internal audit function is an independent, objective assurance and consulting activity designed to add value and improve the efficiency and security of an MFI’s operations. It helps an MFI improve its operations by bringing a systemic, disciplined approach to evaluating and improving its operations and control process. The Institute of Internal Auditors (IIA), an international professional association of more than 12,000 members, defines internal auditing as “…independent, objective assurance and consulting services designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic disciplined approach to evaluate and improve the effectiveness of governance, risk management, and control processes.”