INTERNAL AUDIT FUNCTION AS A STRATEGIC ASSURANCE MECHANISM FOR THE AUDIT COMMITTEE: A LITERATURE REVIEW AND FUTURE RESEARCH AGENDA
Keywords:
Internal Audit Function, Strategic Assurance, Audit Committee, Corporate Governance, Risk IntegrationAbstract
The transformation of the governance environment, characterized by increasing risk complexity, regulatory pressures, and digital disruption, has necessitated a redefinition of the role of the Internal Audit Function (IAF) in modern organizations. Although the literature on internal audit effectiveness has expanded significantly, studies that conceptually integrate the role of the IAF as a strategic assurance mechanism for the audit committee remain limited and fragmented. This article aims to reconceptualize the IAF as a strategic governance infrastructure through a structured literature synthesis of twenty recent academic studies addressing internal auditing, risk management, auditor ethics, and digital transformation in auditing.
Based on thematic synthesis, this study develops the Strategic Assurance Internal Audit Framework (SAIAF), which consists of four key pillars: structural positioning, capability dimension, digital and analytical enablement, and risk integration orientation. Collectively, these pillars form an assurance mechanism that strengthens audit committee oversight, reduces information asymmetry, and enhances governance effectiveness and organizational resilience.
The main contribution of this article lies in strengthening a governance-oriented perspective in internal auditing research by positioning the IAF as a strategic governance infrastructure rather than merely a compliance or control-testing function. The proposed conceptual model provides a theoretical foundation for future empirical research and offers practical implications for audit committees, management, and regulators in designing adaptive and digitally enabled oversight systems.
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