Internal Audit Quality Assurance Reviews
FORVIS has a qualified internal audit staff, including CPA’s, Certified Internal Auditors (CIA), Certified Risk Management Assurance (CRMA) auditors, and Certified Community Bank Internal Auditors (CBIA). Our experienced staff is available to compare your in-house, outsourced, or co-sourced internal audit program compliance with the Institute of Internal Auditor (IIA) International Standards for the Professional Practice of Internal Auditing 1300 series. Compliance with the IIA Code of Ethics will be confirmed as well. The IIA requires the Chief Audit Executive (CAE) to develop and maintain a Quality Assurance and Improvement Program (QAIP) to provide evidence of conformance to the IIAs definition of internal auditing, compliance with the IIA Code of Ethics and to assess the efficiency and effectiveness of the internal audit activities. As a result of an Internal Audit Quality Assurance Review, opportunities for improvement are often identified.
The QAIP will be reviewed for the five (5) key characteristics of an effective program, including:
- Methodology and Process
- Systems and Information
- Communication and Reporting
As one of the first steps, we will conduct an internal quality assessment, which establishes benchmarks, as well as metrics to measure the program against. Additionally, the review will be conducted to confirm compliance with the IIA Standards.