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Internal audit functions that provide important role for management control system are not only for good information guarantee but also for adding value and improve to an organization’s operation (Hass, 2006). For that reason, organization’s administrators provide information relevance in decision making, and for competition and timeliness (Asare et al., 2008; Ponikvar et al., 2009). Therefore, internal audit planning is an important process that affects firm valuable achievement additional to stakeholder and investor confidence, firm creditability. Also, this research attempts to identify key components of internal audit planning strategy implementation, and investigate the relationships between the antecedents and consequences. Moreover, this research attempts to integrate two principal theoretical frameworks, planning theory and dynamic capability view of firms, into the conceptual model. Thus, this chapter presents a review of previous studies and relevant literature detailed in internal audit planning strategy and other constructs in the conceptual model, definitions of each construct, and the authoritative theories. Also, the linkages of the constructs and hypotheses development are presented.
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