The importance of internal auditing
The importance of internal auditing has increased with the expansion of the activities ‎carried
out by the establishments, and their continuous efforts to evaluate these activities, ‎develop
them and increase their productivity, and also in view of the services provided by ‎the
internal audit function of the administration represented in:‎
• Preventive services: ensuring adequate asset protection, protection of policies and
‎plans from deviation in application;‎
• Evaluative services: measuring and evaluating the effectiveness of internal control
‎systems, and adherence to management policies;‎
• Development services: Provide suggestions for the development and ‎improvement
of systems within the establishment.‎
Internal audit objectives:‎
‎1. Purpose of protection:‎
Where the work of checking and matching between the actual performance and pre-set
‎standards of:‎
• Company policies
• Accounting procedures
• Internal control systems
• Records of the establishment
• Value of establishment
• Operating activities.‎
Internal audit helps to detect and identify deviations and take them into consideration
‎during the performance of activities and in subsequent stages.‎
This objective also includes maintaining the integrity of the following matters and ensuring
‎their application: the company's assets of all types, the financial and accounting systems ‎and
procedures, the policies and plans adopted in the company, the records and ‎documents and
the regular and electronic files approved in the project.‎
‎2. Objective of building and development:‎
Means suggesting appropriate steps to correct the results of examination and conformity
‎‎(deviations) and advise management. The Internal Auditor, in addition to reviewing the
‎accounting and financial audit, shall:‎
• Achieving adherence to established policies, procedures and plans‎

• Verifying the integrity of asset protection procedures
• Proposal to improve and improve performance.‎
The primary purpose of the internal audit is to assist the members of the administration in
‎carrying out their duties and responsibilities by the internal auditor conducting the
‎examination and evaluation, and giving management advice and comments on the
‎processes being reviewed.‎
Based on the above, the internal audit profession is currently receiving significant global
‎attention and support from boards of directors. Studies and statistics have shown that
‎international institutions lose about 6% of their average annual income due to fraud and
‎misuse, and also proved that many losses were possible Avoid them if there were ‎effective
audit departments that could highlight weaknesses in internal control systems ‎and fail to
manage risks effectively and efficiently.‎
Despite the inevitability of its independence from the executive management of any
‎institution; however, the internal audit department is an important and complementary ‎part
of the organizational structure, but it is one of the most important departments in the
‎institutions, although it is not a profit producing departments.‎
As the board of directors, it is the only independent entity in the institution that can ‎provide
reasonable assurance to the Board that the institution is moving in the right ‎direction to
achieve the objectives and strategies set by the Board of Directors.‎
With frequent economic crises, corruption, misappropriation and misuse of assets, boards'
‎and audit committees have focused on activating and strengthening the internal audit
‎profession, in order to mitigate many of the risks associated with managing the business of
‎the institution.‎
The perception of the Audit Department as a financially costly management of the
‎institution has changed to the fact that it is an important, effective and necessary
‎management in order to protect the institution from high risks, as many inside and outside
‎the institution attempt to manipulate and fraud.‎