Delivering High Quality Internal Audits
Major corporate and financial collapses over the past decade have highlighted the value of internal audit. With an increased focus on internal audit's role in good governance, management is demanding that internal audit provides assurance over the quality of its own activities.
The IIA Standards provide a framework for internal audit quality in the form of mandatory guidance. However, leading Chief Audit Executives (CAEs) recognise the need to go beyond minimum conformance requirements, and look for opportunities to maximise internal audit quality - leading to increased value offerings to their organisation.
Pitt Group can assist you to embed quality within your internal audit function
Building a QAIP
Better practice internal audit functions establish a quality assurance and improvement program (QAIP) to embed internal audit quality. Typically, these programs include ongoing and periodic internal assessments, and independent external assessments.
An ideal QAIP will provide a feedback mechanism to CAEs and internal auditors - highlighting areas for continuous improvement as well as better practices.
Pitt Group supports CAEs to develop and embed internal audit quality processes. Contact us today to find out more about our quality services.
External Quality Assessments
Pitt Group is a leading global provider of external quality assessments.
All of our assessment are lead by our Managing Director, Sally-Anne Pitt, who has delivered more that 80 assessments over the last ten years.
Pitt Group believes that external quality assessments are more than just demonstrating conformance with the IIA's standards. Our collaborative, maturity-based approach allows us to work with CAEs to determine expectations for internal audit, and to identify practical, tailored solutions for enhancing audit quality.