State-owned enterprises are critical vehicles for the delivery of goods and services, and can contribute to the
sustainable economic growth of developing countries. The business environments in which these state-owned
enterprises operate pose risks to the enterprises, which then rely on internal audit, amongst other options, to
managing these risks. The objective of this study was to determine the perceptions of, expectations for and
challenges experienced by internal audit functions in today’s state-owned enterprises. A qualitative research
approach was selected, utilising a case study method, and data was collected through interviews with
important role players associated with the internal audit function of three South African state owned
The findings of the study revealed that internal audit functions are perceived in a positive light and that
participants do place reliance on internal audit. The internal audit functions act as business partners to
management, and expect support from the audit committees and management in terms of ensuring the
internal audit functions’ independence, and the provision of required resources and skills. The internal audit
functions face diverse challenges. These relate to the relative novelty of performance auditing and combined
assurance in state-owned enterprises, the differences in methodologies and auditing systems used by
outsourced functions, repeat (negative) audit findings, a lack of business knowledge and insight on the part of
the entity, and non-compliance with quality assurance and improvement Standards.
Van Staden, Marianne; Steyn, Blanche(Academic Journals, 2009-12)
The profile of the average chief audit executive was determined. This profile was then related to the profile requirements for the prospective chief audit executive, as well as chief audit executives’ perceptions of the ...
Padayachee, L.G.; De Jager, Herman(Southern African Institute of Government Auditors, 2015)
An integrated audit approach entails an intentional audit design process that cohesively combines business
process auditing and information technology (IT) auditing into a single, co-ordinated effort. However, due to
Gloeck, Juergen D. (Juergen Dieter), 1956-(Southern African Institute of Government Auditors, 2005)
The Auditing Profession Bill, in section 2.1(b), states that the object of the proposed Bill is “…overseeing and regulating the auditing profession”.
A study of the Auditing Profession Bill, however, clearly indicates ...