Audit news

Internal Audit Awareness Month - What is internal audit?

It’s Internal Audit Awareness Month! Yes, they really do get a whole month. Normally, May would be the month of great relief for our internal auditors, as it means that ‘year end’ has finished. As we all know, this year things have been a little bit different. 

We’re aiming to raise awareness of internal audit through a series of posts exploring what audit is, where it came from and why it’s important. 

What are the three lines of defence?

Debunking terminology: the three lines of defence in internal audit

As internal auditors, we can be guilty of using our own specialist terminology. To those outside the field can be seen as technical jargon. Over a series of short articles we’re be attempting to debunk one of the most important audit ideas – the three lines of defence. 

The first line of defence

As part of a series debunking internal audit terminology, we're looking at the three lines of defence. 

The third line defence is defined by the Chartered Institute of Internal Auditors defines the first line of defence as "functions that own and manage risk". Ensuring that the first line is functioning effectively and efficiently is vital to prevent or reduce the likelihood that things will go wrong for an organisation.

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