December 2009
The profile of the chief audit executive as a driver of internal audit quality
The profile of the average chief audit executive was determined. This profile was then related to the profile requirements for the prospective chief audit executive, as well as chief audit executives’ perceptions of the internal audit quality of their internal audit functions. The results of the study are based on responses to questionnaires completed by 30 chief audit executives of larger South African...
December 2009
The standing of the internal audit function within South African companies
This study examined the standing of the internal audit function in 30 of South Africa’s large listed companies as perceived by the chairs of their audit committees, their chief executive officers, chief financial officers, and chief operating officers, as well as the chief audit executives. The standing of the internal audit function in these 30 companies was based on the academic and professional...
December 2009
Internal audit activities performed in South Africa
This study was conducted to determine the perception of the chief audit executive as head of the internal audit function, on the internal audit activities that should be performed (current and future) within South African companies after which the findings were compared with the international perception in this regard. Data was also obtained on whether internal audit activities were performed in-house or were...
December 2009
The correlation between perceived internal audit quality and defined corporate governance soundness
This paper investigated whether a correlation exists between the perceived quality of an internal audit function and the soundness of its company’s corporate governance structure. Compliance with ten disclosure requirements of the King II report was used to determine a corporate governance score for each participating company. The perceptions of management and audit committee chairs on their...
December 2009
Perceptions on the role of the internal audit function in respect of risk
This research investigated the perceptions of chief executive officers, chief financial officers or chief operating officers, as well as chairpersons of the audit committees of the top listed companies in South Africa on the role of the internal audit function in respect of risk. These perceptions were compared with the views of chief audit executives. Data was obtained by means of personal interviews with...
December 2009
Internal audit outsourcing practices in South Africa
This study explores internal audit outsourcing practices in South Africa, an area that has not been researched over the past decade. The extent of internal audit outsourcing practices within 30 large listed South African companies, the rationales behind their outsourcing decisions were determined and their preferred external internal audit function providers, as well as the perceived status of in-house and...
December 2009
Perceptions on the value added by South African internal audit functions
This article explored the perceptions on value added by internal audit functions (IAFs) of South African companies. Six attributes of value added by IAFs (including in-house, outsourced and co-sourced activities) were investigated: organizational status, staffing and work environment, the extent to which IAFs’ recommendations are implemented, risk assessments, internal audit services and performance...
December 2009
Education and training considerations applicable to internal auditors in South Africa
This study explored education and training considerations applicable to internal auditors in South Africa. The study aimed to determine, by means of a comparison, the extent to which education and training requirements for internal auditors are similar to those requirements that are applicable to other professional accounting and auditing bodies in South Africa. The study also aimed to determine the...
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