Which factor is crucial for achieving the mission of the internal audit?

Achieving the mission of the internal audit significantly relies on the availability and collaboration of the audited entities. Internal audits are designed to evaluate and improve the effectiveness of risk management, control, and governance processes within an organization. For auditors to perform their tasks effectively, the cooperation of the audited entities is essential. This collaboration ensures that auditors can access necessary information, gain insights into processes, and understand the context in which the audit is conducted. Engaging with the audited entities fosters open communication, which is vital for identifying issues and enhancing the overall audit process.

While factors such as auditors' expertise in industry practices, the resources allocated to the internal audit function, and familiarity with the standards are also important, they do not hold the same level of criticality as collaboration. An audit can only be as effective as the information and support provided by those being audited, making their involvement indispensable to achieving the internal audit's mission.