INTERNAL AUDIT SAMPLE OF PORTO UNIVERSITY

Although internal audit is not regulated by legislation in Portugal, internal audits in accordance with the International Standards for the Professional Practice of Internal Auditing is conducted in the University of Porto by the “Audit and Internal Control Department” established by a decision of the Board of Directors. The resources devoted to internal auditing is significantly reduced due to the Department also providing support to external audits and carrying out annual risk report preparation activities. The duties, powers and responsibilities of internal auditors not being clearly determined also brings about the risk of their independence being harmed. The fact that internal auditing in Turkey isregulated in accordance with the International Standards for the Professional Practice of Internal Auditing is a very significant advantage. The purpose of this study is to understand and evaluate the internal audit practices of the University of Porto and to compare it with the internal audit practices in Turkey