Internal auditing is an independent, objective assurance and
consulting activity designed to add value and improve an
organization’s operations. It helps an organization accomplish its
objectives by bringing a systematic, disciplined approach to
evaluating and improving the effectiveness of risk management,
control, and governance processes. The article I chose to write about
was “Factors Affecting Internal Audit Effectiveness: Empirical
Evidence from Vietnam.” In this article, a study was conducted
investigating four factors affecting internal audit effectiveness in
Vietnam, namely, independence of internal audit, the competence of
internal auditors, management support for internal audit, and quality
of internal audit work. Through in-depth interviews, and an online
survey, 144 responses were obtained from internal Vietnamese
auditors of nonfinancial companies listed on the Vietnamese stock
market in 2021. The results revealed that the independence of an
internal auditor and management support for internal audit was met
with a positive influence on internal audit effectiveness, whereas the
competence of internal auditors and quality of internal audit work
did not affect internal audit effectiveness. Internal auditing is
different from external auditing as external auditing is conducted on
a yearly basis. The purpose of an internal audit is to review the
routine activities of the business and give suggestions for
improvement. The external audit aims at analyzing and verifying the
accuracy and reliability of the financial statement.
