Assurance Versus Advisory: Keep the Boundary Clear
Identify whether an audit activity provides assurance, advisory support, or management ownership.
What is assurance work? in internal audit practice Independent assessment that provides conclusions on governance, risk management, or control effectiveness. Assurance requires evidence, criteria, and independence from the activity being assessed. What is advisory work? in internal audit practice Advice, facilitation, or insight intended to improve governance, risk, or controls without taking management responsibility. Advisory work needs safeguards when audit may later provide assurance. Advising versus owning Owning creates a self-review threat. Management says, "Audit should approve this because you know controls best." We can advise on criteria and evidence, but management needs to make the approval decision so Audit…
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