Our Quality Assurance Services are meticulously designed to enhance the effectiveness, efficiency, and stakeholder confidence in your internal audit function. We offer a suite of services aligned with the Institute of Internal Auditors (IIA) standards, including the legacy International Professional Practices Framework (IPPF) and the forthcoming Global Internal Audit Standards.

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1. External Quality Assessments (EQAs): We conduct independent evaluations to assess your internal audit activity's conformance with IIA standards and the Code of Ethics. Our EQAs provide:

• Comprehensive Reviews: In-depth analysis of your audit processes, methodologies, and reporting mechanisms to ensure alignment with industry best practices.

• Benchmarking: Comparison against a vast database of successful practices to identify areas for improvement and innovation.

• Stakeholder Insights: Gathering feedback from key stakeholders to evaluate the internal audit activity’s credibility and effectiveness in meeting their needs and expectations.

2. Gap Analysis and Transition Services: As the IIA transitions from the IPPF to the Global Internal Audit Standards, we assist your organization in navigating this change through:

• Gap Analysis: Identifying discrepancies between your current practices and the new standards, providing a clear roadmap for necessary adjustments.

• Transition Planning: Developing and implementing strategies to seamlessly adopt the new standards, ensuring continuous compliance and operational integrity.

• Training and Support: Offering targeted training programs to equip your internal audit team with the knowledge and skills required under the new standards.

3. Internal Quality Assessments: We facilitate ongoing internal evaluations to promote continuous improvement within your audit function. Our services include:

• Self-Assessment with Independent Validation (SAIV): Assisting your team in conducting self-assessments, followed by an independent validation to ensure objectivity and accuracy.

• Performance Metrics: Establishing key performance indicators to monitor progress and identify areas for enhancement.

• Continuous Improvement: Providing recommendations and a roadmap for implementing best practices to enhance internal audit conformance and performance in the future.

4. Quality Assurance and Improvement Program (QAIP) Development: We support the establishment and maintenance of a robust QAIP that covers all aspects of the internal audit activity, as required by the IIA standards. Our assistance includes:

• Program Design: Crafting a QAIP tailored to your organization’s specific needs and objectives.

• Implementation Support: Guiding your team through the deployment of the QAIP, ensuring all components are effectively integrated.

• Ongoing Monitoring: Providing tools and methodologies to regularly assess the QAIP’s effectiveness and make necessary adjustments.

 

By partnering with ITGRC Advisory Ltd., your organization will not only achieve compliance with current and emerging IIA standards but also enhance the overall quality and value of your internal audit function. Our comprehensive services are designed to build stakeholder confidence, improve operational efficiency, and foster a culture of continuous improvement within your audit activities.