This sample outlines the approach employed by internal audit to develop the audit plan and indicative projects for the year.

The plan is based on the previous strategic internal audit plan and has been updated to reflect changes within the organization. The approach to develop the revised plan includes three steps: develop internal audit plan; confirm internal audit focus area; and executive and audit committee endorsement. Develop internal audit plan included the following steps: hold discussions with executives, directors and board members where high-level risks and potential areas of internal audit focus were identified; and conduct risk workshop(s) to confirm areas of focus.