From an internal audit point of view, what are the roles, expectations and deliverables of the internal audit department in an organization going for initial public offer in an international stock exchange?
These are primarily oriented to US markets but the process will be similar elsewhere.
What role does management need and want internal audit to play? That depends on where the company is, how well-organized it is, and what skills and resources exisit within audit, finance, legal, etc. The trick is to help with the process, not get in the way of it. Personally, I think the best way Internal Audit can help is to ensure that the company has adequate controls in place, particularly over internal financial reporting. It would be quite embarrassing for the company to go public and then detect a material weakness that would call into question the accuracy over its financial reports.
Friday June 15, 2012 6:29 AM
