Recognizing that public sector auditors face unique challenges that require tailored guidance, The IIA has released Creating an Internal Audit Competency Process for the Public Sector, the second Practice Guide specifically for government auditors.
The audit function’s effectiveness is impacted by unique public sector characteristics, including:
- The demand for a high level of transparency and performance.
- The usual absence of a profit motive.
- A wide variety of organizational forms (e.g., national, regional, and local governments and quasi-governmental and international government organizations).
- Complex legal frameworks for governing bodies.
This Practice Guide complements the Internal Audit Capability Model by providing specific guidance on developing, implementing, and sustaining an IA-CP. Click here to access the complete report.