Regardless of the geographic location, industry, or type of organization or program, opportunities for corruption present significant risks. Approximately six billion people around the world live in a country with a serious corruption problem. Worldwide, corruption puts businesses and governments at risk and affects organizations, private individuals, and public officials.
To help internal auditors in the fight against corruption, the Institute of Internal Auditors has issued a new practice guide, Auditing Anti-Corruption Activities, to provide insight and best practices on this vital issue that is on many audit plans. This newly updated practice guide discusses the role of internal audit in anti-corruption efforts and describes an effective anti-corruption program, including controls related to preventing, detecting, responding to, and recovering from the risks associated with corruption in many of its forms.
“The guide provides an approach to assessing the maturity of an organization in terms of management’s assessment of and measures implemented to mitigate the risks of corruption, and offers a closer look at the internal audit activities and procedures that may be performed as a function of that level of maturity,” the IIA said in a statement.
After reading this practice guide, internal auditors will be able to identify:
- The elements an organization needs to fight corruption.
- Risks and controls related to preventing, detecting, responding to, and recovering from corruption.
- The roles of the internal audit activity and others in the organization’s anti-corruption program.
- New approaches to assessing anti-corruption programs.
The guide is available to IIA members on its website in the Standards & Guidance section. Practice guides provide recommended practices, rather than the mandatory requirements that are contained in updates the the IIA’s Professional Practice Standards. 