Internal Auditing According to Treadway Commission 1987 Synopsis This definition of the nature of internal auditing and how it operates in an organization was cutting edge at the time it was written and for many is still cutting edge today. It predates much of the development of professional internal auditing since it was published and still provides an excellent benchmark for today and tomorrow.

Extract from the Report of the National Commission on Fraudulent Financial Reporting (1987), American Institute of Certified Public Accountants, New York, USA, with permission from the Committee of Sponsoring Organizations (COSO).

After Reading the Case Study Consider:

1. Benchmark your own internal auditing with the Commission’s statement. Note current gaps, measure these, consider what needs to be improved and plan for improvement.