Internal Audit Positioning - Four Stage Model

Abstract

The objective of this paper is to introduce a new model about positioning of internal audit. There are only a few studies about this subject. Studies about positioning of internal audit function are made for individual research subject such as internal audit’s position in public companies, in private companies, in big firms, in a country, etc. However, there are not many models which show dynamics of internal audit function with a macro approach for positioning as to its maturity, skill sets, independence and governance for private industrial companies. The positioning model outlined in this paper aims to contribute to literature by providing a generic guideline and a tool for assessing the position of any internal audit function and to increase the awareness among stakeholders; thus, motivate decision makers of Turkish organizations to interrogate and challenge what they should be expecting from internal audit function. It will also help the Chief Audit Executives to make more effective audit planning, budgeting, staffing, training, and execution

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