16.3 Types of Internal Audit Engagements
(Last Modified on August 14, 2020)
USG Internal Audit departments will perform the following types of engagements as determined by the approved audit plans:
- Assurance Services – This type of engagement involves the internal auditor’s objective assessment of evidence to provide opinions or conclusions regarding the adequacy and effectiveness of internal controls, the quality of performance in carrying out assigned responsibilities and evaluating risk exposures related to an entity’s governance, operations and information systems.
- Consulting Services – This type of engagement is advisory in nature, related to client service activities. These engagements are intended to add value by making recommendations to improve an organization’s governance, risk management, and control processes. These are generally performed at the request of the client and may include counsel, advice, facilitation and training.
- Blended Services – Engagements that are structured to combine both assurance and consulting services.
- Investigations – Engagements conducted to evaluate and substantiate allegations of unethical behavior related to fraud, waste, abuse, or other wrongdoing and improper activities that may involve potential misuse or misappropriation of resources.
Additional information on selection criteria and decision process for determining types of engagements may be found in Section 2100 of the USG’s Internal Audit Guide.↑ Top