Internal audit - Stiftung Preußischer Kulturbesitz

The Internal Audit is an independent unit reporting to the Chair of the Stiftung Preußischer Kulturbesitz (SPK)  and carries out audit and advisory tasks on behalf of the Foundation’s management. Its audits cover all facilities and organisational units.

It supports the Stiftung Preußischer Kulturbesitz (Prussian Cultural Heritage Foundation) by providing risk-based and objective audit assurance. Its aim is to ensure that the Foundation’s processes are compliant, efficient and transparent, and that decisions are made on the basis of sound information.

Together with the Legal Department, the Internal Audit function manages the whistleblower reporting office.

In addition, it can be commissioned outside the scope of the regular audit schedule to provide consulting services to individual organizational units or to conduct ad-hoc audits in special cases.

Through its work, the Internal Audit department helps to protect the SPK’s values, improve processes and strengthen the Foundation’s reputation and credibility.

To fulfil its tasks, it has the necessary rights of access to information, audit rights and access rights – including the right to inspect files and electronic data, insofar as this is necessary for the respective audit assignment.

Audits

As part of risk-based and standardised audits, the Internal Audit function examines in particular

• whether regulations and requirements are being met,
• whether economic conduct is ensured,
• whether assets are adequately safeguarded,
• whether internal control and risk management systems are functioning reliably, and
• whether management responsibilities are being properly fulfilled. 
   

Recommendations

Internal Audit issues recommendations without interfering in operational decisions. Responsibility for implementation lies with the Foundation Management and the respective organisational units. Internal Audit may review the implementation of its recommendations in follow-up audits.