Different roles of the internal audit function: from assurance to advice

1. Different roles of the internal audit function: from assurance to advice Costanza Schivi - 9 April 2019 “Internal Audit Service: Improving the Commission’s Performance”

2. IAS Mission The IAS provides risk-based and objective assurance, advice and insight. The IAS brings a systematic, disciplined approach in order to evaluate and improve the effectiveness of risk management, control and governance processes.  “Internal Audit Service: Improving the Commission’s Performance”

3. Focus on: -Risks (appropriately and continuously identified, assessed and managed) -Information (financial, managerial and operational) is accurate, reliable and timely -Compliance w/ Commission's policies, procedures, laws and regulations -Effective and efficient achievement of objectives -Development and maintenance of high-quality control processes  “Internal Audit Service: Improving the Commission’s Performance”

4. Assurance vsConsulting services Objective examination of evidence => independent assessment of the effectiveness of risk management, control and governance. Advisory and management-requested activities Nature and scope => AGREED with the Director-General/Head of Service. RISK BASED PLANNING Improve governance, risk management and control processes (the internal auditor must not take up management responsibilities) Audit conclusion/opinion  “Internal Audit Service: Improving the Commission’s Performance”

5. Contact the Internal Audit Service:ias-europa@ec.europa.eu “Internal Audit Service: Improving the Commission’s Performance”