Document background
The Internal Audit Plan Risk Assessment is a foundational document required for establishing an effective risk-based internal audit program in Qatar. It is typically prepared annually or when significant organizational changes occur, combining both regulatory requirements under Qatar law and international internal audit standards. The document is essential for organizations seeking to maintain robust internal control systems and comply with Qatar's corporate governance requirements, particularly those outlined in the Qatar Commercial Companies Law and industry-specific regulations. It includes comprehensive risk evaluation across various categories, assessment methodologies, risk rankings, and proposed audit schedules. The assessment helps organizations identify high-risk areas requiring immediate attention and enables efficient allocation of audit resources. This document is particularly crucial for organizations operating in regulated sectors or those subject to Qatar Financial Markets Authority oversight.
