An assessment of the newly defined internal audit function

Albert L. Nagy (Department of Accountancy, John Carroll University, Cleveland, Ohio, USA)
William J. Cenker (Department of Accountancy, John Carroll University, Cleveland, Ohio, USA)

Managerial Auditing Journal

ISSN: 0268-6902

Publication date: 1 April 2002


The new definition of internal auditing defines the function as an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. The purpose of this paper is to summarize an assessment of this new definition obtained through structured interviews from 11 internal audit directors of large publicly traded companies. The responses from the directors indicate that there are wide differences in viewpoints and objectives; but a definite shift has occurred in the overall scope of internal audit towards operational activities. While most of the interviewees are in conceptual agreement with the new internal audit definition, an underlying warning is vocalized: “Don’t throw out the franchise”. That is, the traditional role of the internal auditor should not be completely abandoned. These, along with other responses pertaining to related issues and suggestions for future research, are summarized throughout the paper.



Nagy, A.L. and Cenker, W.J. (2002), "An assessment of the newly defined internal audit function", Managerial Auditing Journal, Vol. 17 No. 3, pp. 130-137.

Download as .RIS




Copyright © 2002, MCB UP Limited

To read the full version of this content please select one of the options below

You may be able to access this content by logging in via Shibboleth, Open Athens or with your Emerald account.
To rent this content from Deepdyve, please click the button.
If you think you should have access to this content, click the button to contact our support team.