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.‎