Internal Audit Toolkit

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Confirm your organization assess financial, operational, and compliance audit risks and exposure of all your organizations operations and processes (development, construction, leasing, property management operations, and corporate services/functions), and develop a Risk Based Internal Audit plan.

More Uses of the Internal Audit Toolkit:

  • Initiate: management of applicable compliance and regulatory matters to be performed in collaboration with legal, compliance and Internal Audit teams.

  • Coordinate Information security Internal Audit, External Audit, regulatory and SOX review to help represent your organization from an Information security and Technology Risk perspective.

  • Manage work with compliance, Internal Audit, business teams, and internal and external Penetration Testing vendors to scope configure and validate solutions to support Penetration Testing.

  • Coordinate Internal Audit plans and activities with your organizations registered independent accounting organization to eliminate duplicate efforts and, where possible, reduce External Audit fees.

  • Ensure that an effective Internal Audit function is in place for your organization with a focus on adding value and improving the institutional operations, Risk Management, control and governance processes.

  • Administer Internal Audit program to ensure compliance to the Quality Management system through training auditors, auditing Processes And Procedures, and measuring results.

  • Develop: conduct Internal Audits, work place inspections, and Health And Safety tours to the prescribed frequency ensuring compliance to audit standards.

  • Be accountable for managing and developing remediation plans, ensuring observations from Internal Audit, External Audit and/or regulators are assessed and actioned quickly.

  • Drive Business Transformation projects identified from Internal Audit executing its mission of enhancing value and protecting shareholders, employees, and customers by providing assurance on Financial Reporting, operations, and Compliance Requirements.

  • Steer: design, present to the audit committee for approval, and execute the annual Internal Audit plan, with an appropriate allocation of efforts between Supply Chain Operations and retail operations.

  • Lead Internal Audits for Quality Systems, processes, and products to ensure compliance with regulations and internal specifications.

  • Make sure that your project oversees the development and execution of the annual Internal Audit plan to monitor your organizations financial, operational, and Internal Control processes for compliance.

  • Manage the timely completion of remediation plans and other projects to address issues identified internally and by Enterprise Risk Management, Compliance, Internal Audit or external regulators.

  • Be accountable for reviewing the effectiveness of the Internal Audit framework and providing objective assurance on the effectiveness of Risk Management, Internal Control, and governance processes.

  • Confirm your operation establishes cross functional training programs in order to ensure quality technicians for skilled in quality testing methods and Internal Auditing.

  • Arrange that your venture performs Internal Audits of processes using inspection results and Statistical Techniques to provide timely, accurate process and product analysis.

  • Evaluate: Internal Audit helps your organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of Risk Management, control, and governance processes.

  • Liaise with risk champions, application owners, control owners, risk SMEs as Information security, Internal Audit and specialized Risk Management teams.

  • Be certain that your project builds and maintains influential working relationships with management, peers, Internal Audit staff and other internal and external stakeholders.

  • Methodize: pro actively engage Internal Audit, SOX, compliance, Information security, supplier Risk Management, Business Continuity and other assurance functions to support an integrated approach to Risk Management.

  • Be accountable for developing and implementing a department specific Internal Audit plan for activities that put employees at risk or require adherence to special compliance measures.

  • Control: in collaboration with business Process Owners, manage, implement, document, and update the Internal Control framework for key organization business and financial processes in accordance with Internal Auditing and government mandated standards.

  • Establish a risk based plan to align the priorities and agenda of the Internal Audit function with the strategic and compliance goals of your organization.

  • Evaluate the effectiveness of your organizations market risk governance framework, risk measurement, management and control processes, and the Internal Audit of market risk activities.

  • Establish trust and rapport with Trading and Sales Desks, Business Managers, Compliance, Internal Audit, Financial Control, Middle Office, Operations, Technology and Legal functions.

  • Organize: work hand in hand with employees in it, legal and compliance, Internal Audit, finance, operations, Business Intelligence, lending and member facing teams to create a security and privacy culture of compliance.

  • Confirm you orchestrate; lead cross functional alignment of risk practices throughout the business and partner with Enterprise Risk Management and Internal Audit to ensure coordination and transparency related to your organizations risks.

  • Establish: continuously seek feedback and nurture cross functional relationships with security, privacy, engineering, legal, Internal Audit, business, etc.

  • Ensure you orchestrate; embed a continuous risk sensing process that uses external and internal sources of data to evaluate and identify revisions and enhancements to the Risk Management processes to better protect your organization, from emerging risks.


Save time, empower your teams and effectively upgrade your processes with access to this practical Internal Audit Toolkit and guide. Address common challenges with best-practice templates, step-by-step work plans and maturity diagnostics for any Internal Audit related project.

Download the Toolkit and in Three Steps you will be guided from idea to implementation results.

The Toolkit contains the following practical and powerful enablers with new and updated Internal Audit specific requirements:

STEP 1: Get your bearings

Start with...

  • The latest quick edition of the Internal Audit Self Assessment book in PDF containing 49 requirements to perform a quickscan, get an overview and share with stakeholders.

Organized in a data driven improvement cycle RDMAICS (Recognize, Define, Measure, Analyze, Improve, Control and Sustain), check the…

  • Example pre-filled Self-Assessment Excel Dashboard to get familiar with results generation

Then find your goals...

STEP 2: Set concrete goals, tasks, dates and numbers you can track

Featuring 999 new and updated case-based questions, organized into seven core areas of process design, this Self-Assessment will help you identify areas in which Internal Audit improvements can be made.

Examples; 10 of the 999 standard requirements:

  1. In retrospect, of the projects that you pulled the plug on, what percent do you wish had been allowed to keep going, and what percent do you wish had ended earlier?

  2. What are your current levels and trends in key measures or indicators of workforce and leader development?

  3. An organizationally feasible system request is one that considers the mission, goals and objectives of the organization, key questions are: is the Internal Audit solution request practical and will it solve a problem or take advantage of an opportunity to achieve company goals?

  4. Is maximizing Internal Audit protection the same as minimizing Internal Audit loss?

  5. Do you know what you are doing? And who do you call if you don't?

  6. Where do you gather more information?

  7. What Internal Audit data do you gather or use now?

  8. What Internal Audit services do you require?

  9. How would you define the culture at your organization, how susceptible is it to Internal Audit changes?

  10. How do you link measurement and risk?

Complete the self assessment, on your own or with a team in a workshop setting. Use the workbook together with the self assessment requirements spreadsheet:

  • The workbook is the latest in-depth complete edition of the Internal Audit book in PDF containing 994 requirements, which criteria correspond to the criteria in...

Your Internal Audit self-assessment dashboard which gives you your dynamically prioritized projects-ready tool and shows your organization exactly what to do next:

  • The Self-Assessment Excel Dashboard; with the Internal Audit Self-Assessment and Scorecard you will develop a clear picture of which Internal Audit areas need attention, which requirements you should focus on and who will be responsible for them:

    • Shows your organization instant insight in areas for improvement: Auto generates reports, radar chart for maturity assessment, insights per process and participant and bespoke, ready to use, RACI Matrix
    • Gives you a professional Dashboard to guide and perform a thorough Internal Audit Self-Assessment
    • Is secure: Ensures offline data protection of your Self-Assessment results
    • Dynamically prioritized projects-ready RACI Matrix shows your organization exactly what to do next:


STEP 3: Implement, Track, follow up and revise strategy

The outcomes of STEP 2, the self assessment, are the inputs for STEP 3; Start and manage Internal Audit projects with the 62 implementation resources:

  • 62 step-by-step Internal Audit Project Management Form Templates covering over 1500 Internal Audit project requirements and success criteria:

Examples; 10 of the check box criteria:

  1. Cost Management Plan: Eac -estimate at completion, what is the total job expected to cost?

  2. Activity Cost Estimates: In which phase of the acquisition process cycle does source qualifications reside?

  3. Project Scope Statement: Will all Internal Audit project issues be unconditionally tracked through the issue resolution process?

  4. Closing Process Group: Did the Internal Audit project team have enough people to execute the Internal Audit project plan?

  5. Source Selection Criteria: What are the guidelines regarding award without considerations?

  6. Scope Management Plan: Are corrective actions taken when actual results are substantially different from detailed Internal Audit project plan (variances)?

  7. Initiating Process Group: During which stage of Risk planning are risks prioritized based on probability and impact?

  8. Cost Management Plan: Is your organization certified as a supplier, wholesaler, regular dealer, or manufacturer of corresponding products/supplies?

  9. Procurement Audit: Was a formal review of tenders received undertaken?

  10. Activity Cost Estimates: What procedures are put in place regarding bidding and cost comparisons, if any?

Step-by-step and complete Internal Audit Project Management Forms and Templates including check box criteria and templates.

1.0 Initiating Process Group:

  • 1.1 Internal Audit project Charter
  • 1.2 Stakeholder Register
  • 1.3 Stakeholder Analysis Matrix

2.0 Planning Process Group:

  • 2.1 Internal Audit project Management Plan
  • 2.2 Scope Management Plan
  • 2.3 Requirements Management Plan
  • 2.4 Requirements Documentation
  • 2.5 Requirements Traceability Matrix
  • 2.6 Internal Audit project Scope Statement
  • 2.7 Assumption and Constraint Log
  • 2.8 Work Breakdown Structure
  • 2.9 WBS Dictionary
  • 2.10 Schedule Management Plan
  • 2.11 Activity List
  • 2.12 Activity Attributes
  • 2.13 Milestone List
  • 2.14 Network Diagram
  • 2.15 Activity Resource Requirements
  • 2.16 Resource Breakdown Structure
  • 2.17 Activity Duration Estimates
  • 2.18 Duration Estimating Worksheet
  • 2.19 Internal Audit project Schedule
  • 2.20 Cost Management Plan
  • 2.21 Activity Cost Estimates
  • 2.22 Cost Estimating Worksheet
  • 2.23 Cost Baseline
  • 2.24 Quality Management Plan
  • 2.25 Quality Metrics
  • 2.26 Process Improvement Plan
  • 2.27 Responsibility Assignment Matrix
  • 2.28 Roles and Responsibilities
  • 2.29 Human Resource Management Plan
  • 2.30 Communications Management Plan
  • 2.31 Risk Management Plan
  • 2.32 Risk Register
  • 2.33 Probability and Impact Assessment
  • 2.34 Probability and Impact Matrix
  • 2.35 Risk Data Sheet
  • 2.36 Procurement Management Plan
  • 2.37 Source Selection Criteria
  • 2.38 Stakeholder Management Plan
  • 2.39 Change Management Plan

3.0 Executing Process Group:

  • 3.1 Team Member Status Report
  • 3.2 Change Request
  • 3.3 Change Log
  • 3.4 Decision Log
  • 3.5 Quality Audit
  • 3.6 Team Directory
  • 3.7 Team Operating Agreement
  • 3.8 Team Performance Assessment
  • 3.9 Team Member Performance Assessment
  • 3.10 Issue Log

4.0 Monitoring and Controlling Process Group:

  • 4.1 Internal Audit project Performance Report
  • 4.2 Variance Analysis
  • 4.3 Earned Value Status
  • 4.4 Risk Audit
  • 4.5 Contractor Status Report
  • 4.6 Formal Acceptance

5.0 Closing Process Group:

  • 5.1 Procurement Audit
  • 5.2 Contract Close-Out
  • 5.3 Internal Audit project or Phase Close-Out
  • 5.4 Lessons Learned



With this Three Step process you will have all the tools you need for any Internal Audit project with this in-depth Internal Audit Toolkit.

In using the Toolkit you will be better able to:

  • Diagnose Internal Audit projects, initiatives, organizations, businesses and processes using accepted diagnostic standards and practices
  • Implement evidence-based best practice strategies aligned with overall goals
  • Integrate recent advances in Internal Audit and put process design strategies into practice according to best practice guidelines

Defining, designing, creating, and implementing a process to solve a business challenge or meet a business objective is the most valuable role; In EVERY company, organization and department.

Unless you are talking a one-time, single-use project within a business, there should be a process. Whether that process is managed and implemented by humans, AI, or a combination of the two, it needs to be designed by someone with a complex enough perspective to ask the right questions. Someone capable of asking the right questions and step back and say, 'What are we really trying to accomplish here? And is there a different way to look at it?'

This Toolkit empowers people to do just that - whether their title is entrepreneur, manager, consultant, (Vice-)President, CxO etc... - they are the people who rule the future. They are the person who asks the right questions to make Internal Audit investments work better.

This Internal Audit All-Inclusive Toolkit enables You to be that person.


Includes lifetime updates

Every self assessment comes with Lifetime Updates and Lifetime Free Updated Books. Lifetime Updates is an industry-first feature which allows you to receive verified self assessment updates, ensuring you always have the most accurate information at your fingertips.