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1300 Quality Assurance & Improvement Program, 1.5 - Coggle Diagram
1300 Quality Assurance &
Improvement Program
1311 Internal Assessments
Focus: Continuous improvem
of the audit activity
periodic assessm - conformance with the std
conducted by person within org's IA activity
supervised by CAE
suff knowledge of IA practices - at least understanding
of all elements of the IPPF
incorp into the routine policies and practices
used to manage IA activity
Scope
routine and continuous review of the performance of audit and consulting work
ongoing measurements and analyses of performance metrics
(audit plan completion, cycle time, recommendation accepted)
evaluation of adequacy of IA Charter, policies and procedures
evaluation of the effectiveness of continuous improvement activities and adoption of best practices
periodic validation of compliance with the std, applicable laws, regulations and industry practice
assessm of contribution to the org's GRC
Types
Ongoing monitoring
(ind audit engagem)
Audit planning and supervision
Standardized work practices
Audit workpapers reviews and sign-offs
Feedbacks from IA clients and stakeholders
Periodic self-assessm/
assess by other persons
within the org
(IA activity as a whole)
conformance with IIA std and Code of ethics
Quality and supervision of work performed
Adequacy and app of IA policies and procedures
Values added by IA function
Extent of satisfaction of stakeholders' expectation
1312 External Assessments
must be conducted at least once every 5 yrs
through a full external assessm/
a self assessm with independent external validation
X actual/ perceived COI
Scope
conformance with the std, COE, IA Charter,
policies and procedures, applicable laws and regulations
Expectation of IA activity expressed
by board, senior mgt, operational mgt
Determine whether IA activity adds value
and improve the org's operations
Integration of IA activity into org's gov process
Tools and techniques used
Mix of knowledge, experience, disciplines
with the audit staff (process improvement)
1320 Reporting on the Quality
Assurance and Improvement Program
CAE comm the results of QAIP
to senior mgt anf the board
scope and frequency of both
internal and external assessm
qualification and independence of assessor
including COI
conclustion
corrective action plans
rating scale of
external assessment
generally conforms
partially conforms
does not conform
1322 Disclosure of Nonconformance
CAE must disclose the nonconformance
and the impact to senior mgt and the board
Assessment result by external audit team -
-> identified opp for enhanced IA program
The planned actions of CAE
-> to provide improvem of IA program
CAE report to audit committee on the progress
in enhancing the IA program
1.5