In the recent years there has been a paradigm shift from financial til operational internal audit, that has taken place in some of the large Danish financial institutions. This means that in some institutions the chief audit officers no longer “signs” the annual report. This has led to a change in the internal auditor’s tasks and the collaboration between the internal and external auditors.
The subject of this thesis is to investigate the paradigm shift that has taken place in primary Danske Bank and Nykredit Bank. Including which opportunities the external auditor have to assist the internal audit function. This involves an examination of the legal requirements and restrictions that occur in this connection.
Our primary source of data consists of interviews with both internal and external auditors. Including representatives from the internal audit functions at Danske Bank and Nykredit Bank.
The analysis indicates that the paradigm shift has led to several options for the external auditor to assist the internal audit function. These options include external auditor as an advisor and the possibility of co-sourcing the internal audit function, which are the options relevant for this thesis’ delimitation.
Furthermore the study has found that the change of internal audits role in many ways has led to a more value creating internal audit than earlier years. This is defined by the new approach to internal audit where the internal audit functions deep company insight and knowledge is utilized. The analysis is completed by an assessment of the future internal audit functions possibilities and options to create even more value in the future.
As part of our final conclusion we have developed a proposal for a future collaboration model between internal and external auditors and general proposals to the internal audit function in order to create more value. The model contains suggestions to some of the problems we have observed through our interviews and collection of data.
|Educations||, (Graduate Programme) Final Thesis|
|Number of pages||106|