The Institute of Internal Auditors defines Internal Auditing as:
"An independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes."
Outsourced Internal Audit
Case Western Reserve University engages Deloitte & Touche LLP to perform internal audit services for the university.
"Deloitte is a third party Accounting Firm that has provided internal audit services to the University since 2008. In this capacity, we provide a range of services, including internal control training and education, internal control testing, management oversight, risk assessment, and special requests from University management and the Audit Committee of the University."