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Annual Planning - Audit Universe

Updated: Oct 13, 2020


An Audit Universe can be extremely valuable to any Internal Audit function. Regardless of the maturity of an organisation, how robust and well developed the entities controls are, or the size of an internal audit function, an audit universe can provide many benefits, such as:

  • Identification of each business unit (otherwise process or auditable entity);

  • Mapping of risks, controls and regulations to each business unit;

  • History of audits performed and time / cost associated with each audit, as well as the audit rating; and

  • Assistance in the d