#Define silo enterprise structure professional#
#Define silo enterprise structure series#

Put simply, if you think of your organisation as a big cake how best do you slice that cake to arrive at sensible bite-sized chunks that can be easily and effectively audited? Each chunk is an auditable entity and collectively the chunks are known as the internal audit universe. In practice, the internal audit universe is often a combination of all or most of the above.

Alternatively, an auditable entity may simply be constructed according to a key risk or key control. These auditable entities are often constructed according to business unit, product or service line, legal entity, regulatory required audit, processes, programmes, or systems.

#Define silo enterprise structure series#

This article is the first in a series with the aim of stimulating discussion and providing insight for Audit Committees, executive management and internal auditors about the internal audit cycle.įirstly, not all internal audit functions will develop an internal audit universe, but more of this later.Īn internal audit universe comprises several distinct auditable entities which can range from a few to several hundred or perhaps even thousands depending on the scale and complexity of your organisation. Is an internal audit universe required and if so, how do you establish and maintain this universe? Steve Bruce CA finds out. Benefits to all type and size of organisation can be achieved by implementing an internal audit universe although common pitfalls should be considered.The decision to create an internal audit universe is often based on internal audit’s independent view of the risk maturity within the organisation.An internal audit universe is made up of a range of distinct auditable entities which can run to several hundred or even thousands depending on the scale and complexity of the organisation.

#Define silo enterprise structure professional#

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