Internal Audit Handbook（2007）E1-Conclusion.pdfVIP

Perception of InternalPerception of Internal For many years, Internal Audit stayed on the sidelines of day-to-day business op- AuditAudit erations and was generally perceived as a group of “box-checkers,” feared rather than valued as a control body at the behest of corporate management. We hope that the exploration contained in this handbook has changed this perception and, using the developments at SAP as an example, refuted it at least in part. Even if some ele- ments of these original views persist, the first important steps toward a changed perception of Internal Audit have been taken. Limits of FurtherLimits of Further The reorientation is not about totally reinventing Internal Audit, because much DevelopmentDevelopment of what has long been accepted as good and correct still applies to this day. Tradi- tional audit activities at the day-to-day working level will always form part of the audit work carried out to achieve the desired results. The requirements for documen- tation and reporting, for example, have not lost their significance. In addition, a healthy measure of respect for Internal Audit within the company may be expedient, because Internal Audit would otherwise not be able to fulfill its audit mandate in the interest of company management and all employees. Therefore, Internal Audit’s further development should continue to be integrated into the framework and basic principles of audit work and the auditors’ self-image and into every company’s own corporate governance system.