Managing internal audit and control

This capability refers to managing the internal audit function and ensuring effective control over an organization’s operations. Internal audit and control play a critical role in identifying potential issues and improving overall business performance.

Beginner competence definition

At the beginner level, individuals are able to understand the basics of internal audit and control and their importance to the organization. They follow established procedures and work with their team to support the internal audit function. They can also escalate any potential issues to the appropriate stakeholders.

Intermediate competence definition

Intermediate-level individuals can manage the internal audit function and develop control procedures to ensure compliance with policies, regulations, and laws. They manage internal audits and work with the audit team to identify areas of risk and opportunities for improvement. They can provide training to their team and stakeholders on internal audit and control.

Advanced competence definition

For advanced competence level, an individual has a deep understanding of the internal audit and control function and can develop and implement strategies to improve the effectiveness and efficiency of internal audit and control processes. They communicate effectively with stakeholders about the internal audit function and provide guidance to senior management. They can develop strategies for continuous improvement in internal audit and control and drive a culture of internal audit and control within the organization.