The Institute of Internal Auditors is recognized as the authority that establishes the guidelines and standards for the internal audit profession. As the world has rapidly evolved over the past several years, internal auditors have been called on to provide a wide array of services. Yet, management often does not understand the full breadth of the IIA Standards and protocols auditors should follow when performing both Assurance services and Consulting services.

This set of courses on “The Internal Audit Function” was developed by Lynn Fountain, CPA, CGMA, CRMA, MBA, cPIA and past Chief Audit Executive. Lynn authored the book Leading the Internal Audit Function which was released by Taylor & Francis in 2017.

This text base course is in several sections. This specific course is dedicated to The Internal Audit Function and examination of involvement in fraud evaluations vs. fraud investigations. There is a clear variation in the two processes. Evaluations are considered systematic examination of an areas merit, worth and significance, using criteria governed by a set of standards. Examinations can assist in decision-making. The primary purpose of an evaluation is to gain insight into an area and enable analysis. The analysis can assist in identification of root cause analysis, control gaps or required change.

An investigation in the context of a forensic analysis (as in the case of fraud investigations) is the scientific method of gathering and examining information about a particular event. The word forensic is derived from the Latin forēnsis, meaning "of or before the forum." (Source Wikipedia).