Tone at the Top

Budgeting the Internal Audit Function: How Much Is Enough?

Tone at the Top June 2018One hallmark of a successful internal audit function is that it is properly resourced. Chief audit executives (CAEs) must ensure that internal audit resources are “appropriate, sufficient, and effectively deployed to achieve the approved plan,” according to The IIA’s International Standards for the Professional Practice of Internal Auditing. Board and audit committee members are similarly responsible for approving the right level of resources. Yet there is no simple formula for developing an internal audit budget.

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Budgeting the Internal Audit Function: How Much Is Enough?


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