ABSTRACT
One of the most important aspects of the Internal Audit role is often the least understood; this is the concept of adding value. Internal Audit in every organisation has a reputation, good, bad or indifferent, and a key aspect of adopting a risk-based approach is to try to assess this reputation, and whether or not it is improving. Risk, therefore, is not just something that affects the organisation; it directly affects the Internal Audit function itself. Many Internal Audit functions send out to the management of the function being audited immediately after the assignment has been finished. Firstly, if the audit has highlighted many areas for improvement, the manager may not necessarily regard this as a benefit, particularly in a blame culture. A short statement highlighting the positive role of Internal Audit in Corporate Governance and the professional approach adopted.
