Any successful organization must establish a basic framework through which both long-term and day-to-day decisions will be made. Think about how a university is structured, or the business through which you gained your first part-time job. Reflect on any clubs or athletic teams in which you participated. All had some form of structure that helped them be successful.
In most organizations internal auditing can be a key enabler to that success. Before you can fully understand how an internal audit function can serve such a role, it is important first to understand how organizations are structured and operate to achieve success. Although the actual organizational structure will vary from one organization to the next, each must establish an overall governance structure to ensure key stakeholder needs are met.