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IIA brings up to date Internal Audit Practice Advisories on Quality Assurance

Posted by | June 2, 2015 | Big 4 Accounting firms, FTSE 100 companies, Internal Audit, Latest Audit Information & News, Risk Audit

Audit International, the leading specialists in Internal and External Audit Recruitment across Europe, the US and Asia have known The Institute of Internal Auditors (IIA) recently released nine new and updated practice advisories that provide guidance to internal auditors and chief audit executives on managing an effective quality assurance and improvement program.

Mentioned advisories focus on parts of the IIA’s International Standards for the Professional Practice of Internal Auditing that deal with maintaining, establishing, and reporting on a quality assurance and improvement program. According to the IIA, these mandatory programs are intended to build confidence in internal audit’s work performed in accordance with the standards.

See below the nine practice advisories:

1- Quality Assurance and Improvement Program

2- Internal Assessments

3- External Assessments

4- External Assessments: Self-Assessment with Independent Validation

5- Independence of External Assessment Team in the Private Sector

6- Independence of the External Assessment Team in the Public Sector

7- Reporting Results of the Quality Assurance and Improvement Program

8- Use of “Conforms with the International Standards for the Professional Practice of Internal Auditing”

9- Disclosure of Non-conformance with the International Standards for the Professional Practice of Internal Auditing

IIA members can access all of the institute’s practice advisories

These modifications and all the changes to the updated advisories are designed to provide enhanced recommended guidance to chief audit executives, whether relating to the results of internal and external assurance reviews, or disclosing non-conformance with the standards.

 

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