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Prepared By: Neil Pitman, Head of Southern Internal Audit Partnership
April 2025
1. Introduction
The Global Internal Audit Standards in the UK Public Sector [Standard 9.2] requires the internal audit function to develop and maintain an internal audit strategy. This is contextualised within the Standards as:
‘a plan of action designed to achieve a long-term or overall objective. The internal audit strategy must include a vision, strategic objectives, and supporting initiatives for the internal audit function. An internal audit strategy helps guide the internal audit function toward the fulfilment of the internal audit mandate.’
The Strategy aims to support the achievement of the organisations corporate priorities and align with the expectations of its key stakeholders.
2. Internal Audit Purpose and Role
Internal audit strengthens the organisation’s ability to create, protect, and sustain value by providing independent, risk-based, and objective assurance, advice, insight, and foresight.
The role of internal audit is best summarised through its definition within the Global Internal Audit Standards in the UK Public Sector, as:
‘an independent, objective assurance and advisory service designed to add value and improve an organisation’s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of governance, risk management, and control processes.’
3. Vision
Our vision reflects the Southern Internal Audit Partnership’s aspiration to deliver a quality internal audit service to our stakeholders and inspire our auditors and the service(s) we deliver to continuously improve.
4. Strategic objectives and supporting initiatives
Our vision will be realised through delivery of key objectives that will help shape service provision and futureproof the Southern Internal Audit Partnership through continued learning & development.
Following a process of engagement with the Partnership’s key stakeholders, three objectives have been prioritised to help attain our vision over the medium-term (2025 - 2028).
These objectives are underpinned by a suite of supporting initiatives outlining the key steps to drive delivery.
The supporting initiatives provide opportunity for our auditors to develop their competencies, enhance the optimisation of technology, and provide continuous improvement to the Southern Internal Audit Partnerships internal audit offering.
They are premised on engaging with all appropriate stakeholders, equipping them to facilitate delivery, empowering them to deliver required outcomes, and embedding good practice into the fabric of the Partnership and the wider organisation.
Strategic Objective 1 – Agile Auditing: Innovate to explore a more agile approach to the audit process, building efficiencies and producing more timely feedback to the organisation.
Supporting Initiatives:
· Engage with internal audit staff and the organisation to understand expectations and importance of timely audit feedback & reporting.
· Equip internal auditors to deliver high quality internal audit services through a lean, efficient and effective operating model.
· Empower internal auditors to operate in an agile manner.
· Embed behaviours that support an agile methodology.
Strategic Objective 2 – Optimisation of Standards: Embrace and prioritise conformance and embedding of the Global Internal Audit Standards in the UK Public Sector and maximising their potential to benefit the organisation and the internal audit function.
Supporting Initiatives:
· Engage internal audit staff and key stakeholders to ensure a full knowledge and understanding of the GIAS in the UK Public Sector.
· Equip internal audit staff and key stakeholders with the tools and information to discharge their respective responsibilities within the GIAS in the UK Public Sector.
· Empower internal audit staff and key stakeholders to act on their respective responsibilities and accountabilities within the GIAS in the UK Public Sector.
· Embed the mandatory requirement of the GIAS in the UK Public Sector into all relevant policy, process and procedure.
Strategic Objective 3 – Data Analytics by Default: Further engage with the organisation to enhance and optimise the full potential of data analytics in the internal audit process.
Supporting Initiatives:
· Engage with internal audit staff and the organisation’s management to relay the benefits offered through use of data analytics.
· Equip auditors to undertake data analytics with the appropriate technology and support.
· Empower internal auditors to use data analytics through dedicated training and support.
· Embed data analytics into the fabric of the Partnership, championed from the top and provide a clear articulation of intent.
5. Review
The internal audit strategy will be periodically reviewed and as a minimum in response to significant organisational change, including but not limited to corporate objectives, key stakeholders, Chief Internal Auditor, or resultant of the outcomes of internal or external quality assessments.
