PricewaterhouseCoopers' Internal Audit Framework provides a strategic model for internal auditors and their stakeholders to understand the relationships and linkages necessary to achieve a high quality and effective internal audit function.
The Framework explores:
- The relationship between stakeholders' expectations and the organisation's risk management priorities;
- The difference between the mission of internal audit and its "value drivers";
- How value drivers provide the filter for determining the most appropriate internal audit practices for an organisation;
- How core internal audit processes must be aligned with the internal audit mission and value drivers, and
- How both planning and performance measurement must be directly driven by the value drivers and support the core internal audit processes.
