First-party audit
The Chartered Institute of Procurement & Supply (CIPS) Glossary of procurement terms, defines a first-party audit (or internal audit) as: ‘An inspection of an organisation by an auditor employed by the organisation.’
Functional Standards Common Glossary, published by the Cabinet Office, defines internal auditing as: ‘An independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations. It helps an organisation accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.’
It defines an internal audit charter as: ‘…a formal document that defines the internal audit activity’s purpose, authority and responsibility. The internal audit charter establishes the internal audit activity’s position within the organisation; authorises access to records, personnel and physical properties relevant to the performance of engagements; and defines the scope of internal audit activities. It should be reviewed periodically and approved by the audit committee.’
And an internal audit engagement as: ‘A specific internal audit assignment, task, or review activity, such as an internal audit, control self-assessment review, fraud examination, or consultancy. An engagement may include multiple tasks or activities designed to accomplish a specific set of related objectives.'
[edit] Related articles on Designing Buildings
Featured articles and news
Conservation and transformation
Reading Ruskin’s cultural heritage. Book review.
Renovating Union Chain Bridge.
AI tools for planning, design, construction and management
A long, continually expanding list, any more to add?
Robots in the construction industry
From cultural characterisations to construction sites.
Empowering construction with AI integration
New horizons with a human touch.
Key AI related terms to be aware of
With explanations from the UK government.
A Better Hiring Toolkit for construction
Tooling up to hire under best practice standards in the sector.
Recharging Electrical Skills in Wales
Step by step collaborative solutions.
Ireland budget announcement 2025
CIOB responds with positivity, criticism and clarity.
The continued ISG fall out, where to go?
Support for ISG contractors, companies and employees.
New HES national centre for traditional building retrofit
Announced as HES publishes survey results which reveal strong support for retrofit.
Retrofit of Buildings, a CIOB Technical Publication
Expected to become one of the largest activities in the global construction industry.
Scope determination appeals and the Building Safety Act
Process explained following release of appeals guidance.
The ECA industry focus video channel
Keeping update with the industry session by session.
Over 25 recorded informations sessions freely available.
AT Awards 2024 ceremony East London October 25th.
Revisiting the AT community at the 2023 awards evening.