Internal Audit
What is it?
Independent and objective activity, aimed at the evaluation of processes, risks, internal control, accounting operations and other matters, in order to improve the operations of an Organization and thus achieve its objectives.
The Framework for Professional Practice of Internal Auditing is promulgated by the Institute of Internal Auditors (IIA), and includes the following:
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Definition of Internal Audit
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Fundamental Principles
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International Standards for the Professional Exercise of Internal Auditing
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Code of ethics
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In Colombia, internal auditors make use of this Framework as guidelines for the development of their activities.
Our approach
Our approach is based mainly on the application of the Framework for Professional Practice of Internal Auditing. The activities that we develop to define and execute the annual internal audit plan include the following:
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Understanding of the business and the processes of the Company
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Validation of business and process risks with process owners and Management
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Understanding of the Internal Control System of the Company
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Definition of the audit plan based on the prioritization of risks and opportunities for improvement in the Internal Control System