Internal audit function – a function of an entity that performs assurance and consulting activities designed to evaluate and improve the effectiveness of the entity’s governance, risk management and internal control …

Internal auditors – those individuals who perform the activities of the internal audit function. Internal auditors may belong to an internal audit department or equivalent function, outsourcing entity or co-sourced from both internal and out-sourced …

Internal audit provider – a third party auditor contracted to provide internal audit services to an entity. …

Regulators – may include the Australian Securities and Investments Commission (ASIC), the Australian Prudential Regulation Authority (APRA) or the Australian Taxation Office …

For the purposes of this GS, the following documents and information which are ordinarily contained in an audit file, may not form part of the auditor’s audit working papers defined in paragraph 7(d) that are normally provided to another party when access …

The auditor’s internal budgeting documents concerning costing or billing records for the audit client; …

Internal staffing-related documents for the engagement and any incidental personnel records or information about the engagement team; …

Documents or information that are subject to legal professional privilege; …

Information subject to other legislative requirements, for example, those governing privacy; and …

Proprietary work programs (e.g. client acceptance checklists and internal firm independence review checklists). …