When designing an internal audit function, strategy must drive tactics, not the inverse. Too often, the start-up is in response to an immediate tactical need. In a rush to implement a response, key strategic issues can be overlooked. The result can be a tactical internal audit function in search of a strategy. To help companies design and implement a strategically focused internal audit function, PricewaterhouseCoopers developed a 10-step start-up framework. This framework is proven through PricewaterhouseCoopers’ work with companies of all sizes. Steps 1–4 focus on strategic issues, while Steps 5–10 focus on equally important, but more tactical considerations. While the 10 steps build on.
