Internal audit’s role as a coordinator of combined assurance implementation

Abstract

This research focuses on the role of internal audit as a coordinator in the combined assurance approach from the planning, implementation, and reporting points of view. This qualitative research study on SKK Migas Financial Reporting Assurance analyzes data from the literature and interviews to reach conclusions. The results of this study reveal that organizations can perform independent measurements for readiness-combined assurance implementation. Business processes which become the assurance objects must be mapped to the embedded risks. Coordination among assurance providers can be implemented using an assurance map. A combined assurance planning report states the role of each assurance provider and assists the auditee in performing resource planning for facilitating the assurance providers. The value added for the organization which implements combined assurance comes from reducing duplication and focusing internal audit activities on significant areas where assurance has not been performed. A thorough implementation of these activities reduces assurance gap and assurance fatigue.