An Evaluation of the Performance of Internal Auditing in the Arabian Gulf Region

Abstract

The manner in which internal audit work is performed is a significant issue of successful auditing. How to perform professional audit work was the focus of the Standards of Professional Practice of Internal Auditing (SPPIA), promulgated by the Institute of Internal Auditors (IIA), in particular Standard 400. The aim of this work is to examine the performance of internal audit work in the Gulf Region, in connection with the guidelines attached to Standard 400, and to identify some of the key factors affecting the quality of the performance. In general terms, the majority of the responding firms follow professional procedures when performing audits. In most of these firms, however, the ultimate report does not reach top management. There was evidence of the effect of some internal factors, such as the size of the internal audit department, the role of its director, and the existence of a charter for the department, on the professional performance of the internal audit work, but no proof of different performance practices of internal audit within different Gulf States.