Internal audit's role in the integrated reporting process in Durban.
Loading...
Date
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
The progress of Integrated Reporting brings about an opportunity for Internal Audit to fill the
role of the assurance provider on the information included in the Integrated Report. Providing
assurance on the Integrated Report gives the stakeholders of the organisation more confidence
in the reported information and allows for accurate decision making.
The Integrated Report is made up of various capitals that consist of financial and non-financial
information. Due to non-financial information becoming more significant to the stakeholder, it
becomes crucial that this information is verified by an independent assurance provider.
It is important to identify the ideal assurance provider who possesses the necessary
competence and the required independence to verify that the information is accurate, valid and
complete. This creates opportunities for many ideas and opinions on who the assurance
provider should be and who is best suited for this role.
The study investigates whether or not a role for Internal Audit exists in the Integrated
Reporting Process and what that role is. Through in-depth interviews with the Heads of
Internal Audit at four JSE-listed organisations in Durban, the role of the Internal Audit
Departments was compared and analysed. The outcomes of the case studies were then
compared to available literature.
The research is motivated by the desire to add value to the Internal Audit profession and to
allow the profession to grow. By identifying the current and future role of the Internal Audit
Department in the Integrated Reporting Process, the results can assist companies to prepare for
the emerging role and obtain the necessary resources to provide the required assurance.
The findings of this research identified whether or not the Internal Audit Department is
currently involved in the Integrated Reporting Process, and identify what the role of the
department is. Furthermore, any differences between the Internal Audit Departments within
the four organisations were examined. Finally the opinions of the Heads of lnternal Audit
were compared to determine the future role of Internal Audit in Integrated Reporting.
Description
M. Com. University of KwaZulu-Natal, Durban 2014.
Keywords
Auditing, Internal--South Africa--Durban., Auditing--Standards--South Africa--Durban., Corporation reports--South Africa--Durban., Social responsibility of business--South Africa--Durban., Theses--Leadership and management.