Our Internal Audit Re-Engineering Questionnaire document provides a framework to enhance the effectiveness and scope of internal audit functions within organizations. It emphasizes the need for internal audits to go beyond financial compliance, such as Sarbanes-Oxley Act (SOX) requirements, and include broader evaluations of operational, legal and regulatory risks.

The document includes two sample questionnaires that detail specific roles and responsibilities for internal auditors in supporting management's efforts to meet regulatory requirements while maintaining independence and objectivity. By aligning internal audit activities with stakeholder expectations and enterprisewide risk management goals, this tool guides auditors in re-balancing their focus toward comprehensive risk-based auditing, ensuring that all significant areas of enterprise risk are adequately addressed. 

Diagnostic questions include:

• Has internal audit been involved in continuing to find ways to improve, streamline and reduce costs related to SOX compliance?
• Are similar efforts planned for the current year and after the current year’s SOX compliance efforts?
• Has internal audit coordinated its plan with the SOX PMO or equivalent to ensure proper coordination, lack of duplication and clarity of roles?
• Is this role in agreement with the internal audit charter?