AVAKA Financial Services
South AfricaMandate and operating model

Internal audit function designGive internal audit a mandate, plan and operating rhythm that hold together.

We help organisations establish or refresh the internal audit function’s mandate, reporting line, committee interface, audit universe, planning method and performance expectations.

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South African business environment representing internal audit function design

Standalone service

Internal audit function design

Charters, governance, audit-universe design and strategic planning for a credible internal audit function.

Questions this service answers

A precise scope starts with the right question.

  1. 01

    Do the internal audit and audit committee charters establish clear authority and accountability?

  2. 02

    Does the audit universe connect strategy, risk, technology and public accountability?

  3. 03

    Can the strategic and operational plans be delivered with available capacity?

Defined outputs

Evidence designed for action.

Final coverage follows the agreed target, authority, materiality and evidence available. These are the core outputs around which the engagement is built.

  • 01

    Internal audit and audit committee charters

  • 02

    Internal audit operating model and methodology

  • 03

    Risk-based audit universe and strategic plan

  • 04

    Operational plan, measures and committee calendar

Delivery discipline

A method that protects the conclusion.

  1. 01

    Frame

    Set the mandate

    Confirm scope, stakeholders, materiality and the decisions the work must support.

  2. 02

    Map

    Trace risk to control

    Connect objectives, risks, controls, evidence sources and accountable owners.

  3. 03

    Test

    Challenge the evidence

    Use proportionate sampling, analytics and interviews to test design and operation.

  4. 04

    Land

    Make action unavoidable

    Report root causes, prioritise exposure and agree realistic remediation ownership.

Reference points

Criteria agreed before testing begins.

  • Global Internal Audit Standards
  • King V governance principles
  • PFMA and MFMA context where applicable

Applicability and final criteria are confirmed during engagement scoping.

Also in Internal audit

Related services

01.06Performance and compliance auditIndependent testing of performance information, compliance obligations and the controls supporting reported results.01.01Internal audit outsourcingAn independent internal audit function covering planning, execution, reporting and committee support.01.02Internal audit co-sourcingTargeted expertise and delivery capacity integrated into the existing internal audit function.

Start with the target

Define what this internal audit function design needs to prove.

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