Adding Value Through Quality
A Quality Assurance and Improvement Program ("QAIP") enables an evaluation of the internal audit activity's conformance with the Definition of Internal Auditing and the International Standards for the Professional Practice of Internal Auditing ("the Standards") and an evaluation of whether internal auditors apply the Code of Ethics. The program also assesses the efficiency and effectiveness of the internal audit activity and identifies opportunities for improvement. In order to be in compliance with the Standards, internal audit departments must perform periodic self assessments of their QAIP as well as undergo an external assessment at least once every five years.
CMD's extensive experience with the Standards and internally managing a QAIP will help you achieve this requirement while offering value-added recommendations that build stakeholder confidence and improve the quality of your department. Our methodology has been honed over the course of time and updated to reflect the current version of the Standards.
We'll work closely with you to plan the overall engagement > request documentation and schedule interviews > perform fieldwork onsite > discuss the overall evaluation > provide a final report showing how your department lines up to each of the required standards.