Internal Audit Quality Assessment Reviews

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The changing business environment is driving Boards and audit committees to raise their expectations of internal audit, requiring them to deliver more value more efficiently.

Maximising the value and effectiveness of the internal audit function requires an understanding of an organisation's objectives, risks, risk management priorities, control framework, regulatory environment, and the diverse needs of critical stakeholders. Ultimately, these needs determine the risk profile of the organisation and the strategic focus, organisation, resources and practices required of its internal audit department.

We can assist organisations in improving the quality and effectiveness of their internal audit processes by providing external quality assessment reviews (QAR) to improve the quality of Internal Audit function and its conformity with International Internal Audit (‘IIA’) Standards, stakeholder expectations and best practice.

An external quality assessment review will assist your Internal Audit function to: 

  • Demonstrate that it is operating in accordance with IIA Standards
  • Demonstrate that it is committed to value enhancement and continuous improvement
  • Obtain clarity and insights on management and stakeholder expectations for the function
  • Benchmark against its Russian and global high performing peers
  • Receive tailored recommendations for improving its quality and performance