Wat are the key deliverables from the quality assessment reviews?
The key deliverables from the internal audit quality assessment reviews are generally driven by the primary objectives for the reviews, the business needs and expectations of the stakeholders. Listed below are some of the most common key deliverables in the industry:
- Project plans and communication protocols
- Business Needs Analysis and Stakeholders expectations.
- Detailed findings and executive summary reports aligned with the review focus areas prescribed by the different quality measurement standards and tools deployed n the reviews. Generally, the report should highlight the Stakeholders perceptomes of the internal audit function and perspectives for the future, Conformance to the IIA IPPF, Current and target maturity levels in the IIA Internal Audit Capability Maturity Model and Comparison positions with the IIA Audit Intelligence Suite/GAINS Benchmarking Survey Study).
What are the procedures for testing the information gathered during the current state assessment?
The internal audit quality assessment expertise and knowledge is demonstrated on the following:
- the actual testing procedures adopted,
- the specific documents gathered and reviewed,
- the quality of questions asked and responses obtained from the stakeholders’ engagements and focus group forum discussions,
- quality of the survey questions administered and responses obtained,
- quality of the working papers documentation, test results/findings, root cause analysis and conclusions.
The above factors drive the quality of the recommendations and implementation success.
The specific test procedures and expected results have not been covered in this blog post, Readers can achieve this through self efforts or attending our formal training on the subject. The IIA and other leading practices resources have provided many useful publications that readers can lean on.
Provided below are some of the Internal Audit Quality Assessment Review Standards and Toolkits.
The Key Highlights of The IIA IPPF 2017 Standards
The Key Highlights of The IIA IPPF 2024 Standards
Please note that work is in progress to update the blog with the templates for the latest IPPF 2024 release.
The Key Highlights of The IIA Internal Audit Capability Maturity Model (IIA IC-MM)
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