Although Internal Audit does have a degree of focus on the financial aspects of the organisation, it is essentially not a financial discipline – unlike its counterpart External Audit. Its multidimensional nature mandates a much broader scope in the organisation than that of External Audit. The nature of the Internal Auditor’s daily work creates the opportunity to acquire a significant amount of depth and breadth of understanding of the organisation’s strategy and operations. Its multidimensional nature therefore inevitably shapes internal auditors into ideal candidates for executive positions.
Assessment techniques ensure an internal auditor completely understands internal control procedures and determines whether employees comply with internal control directives. An auditor avoids disrupting the daily workflow by beginning with indirect assessment techniques. For example, he may review flowcharts, manuals, departmental control policies or other existing documentation, or he may trace specific audit trails from start to finish. He may conduct one-on-one interviews and process observations with staff if document reviews or audit trails do not fully answer all of his questions.