Consulting engagements represent an integral part of the overall activities of the modern internal audit function. The aim of this final thesis is to explore the importance of consulting engagements of the internal audit function in the context of the changing role of the internal audit function in organizations. The paper describes relevant features of the internal audit function and its consulting engagements, presents a detailed overview of the types and methodology of conducting consulting engagements as well as the framework for their use in accordance with the relevant requirements and guidelines of the International Professional Practices Framework. Furthermore, the related challenges of maintaining the independence of the internal audit function and the individual objectivity of internal auditors are highlighted. The case study method is used to analyse existing experiences in planning and carrying out consulting engagements of an internal audit function in an international organization from the higher education sector. Based on the provided example, it is possible to conclude that consulting engagements contribute to the efficiency of the internal audit function and increase the added value of the work of internal auditors within the organization.