Siseauditit

Siseauditit is the term used in Estonian contexts to describe the internal audit function within organizations. It denotes a systematic and independent activity that evaluates and improves an organization’s governance, risk management, and internal control processes. The goal is to provide management and the board with assurance that risks are being managed effectively and that operations are efficient and compliant with laws and policies.

Internal audit activities are guided by professional standards, including the International Standards for the Professional Practice of Internal Auditing (IPPF) and the Code of Ethics published by the IIA, together with local regulations and the organization’s own charter. Key principles include independence and objectivity, with the internal audit function typically reporting to the audit committee or board to maintain impartiality. The scope covers financial, operational, IT, and compliance areas, and it may include evaluations of risk management, control effectiveness, asset safeguarding, and governance processes. Internal audit can provide both assurance engagements and, in some cases, advisory services, but must maintain independence from the functions it reviews.

The typical process involves planning based on risk assessment, conducting fieldwork, communicating findings through formal reports, and following up on management action plans. Outcomes include assurance opinions, prioritized recommendations, and monitoring of remediation efforts. In practice, siseauditit is a common governance feature in Estonian organizations, spanning private companies, publicly listed entities, and public sector bodies, and it plays a central role in supporting transparent and responsible governance.