Capture the benefits of a quality assessment
Audit committees and chief audit executives may want to assess how well internal audit is performing. this is where an internal audit quality assurance review comes in.
The Institute of Internal Auditors established the benchmark for internal audit performance through a series of standards. To ensure that your internal audit function conforms to the International Standards for the Professional Practice of Internal Auditing, you must establish a Quality Assurance and Improvement Program and, obtain an external quality assessment by an independent reviewer or an internal review team.
The benefits of a quality assurance review
There are many important benefits of having an internal audit quality assurance review, including:
At Kreston we can perform the quality assurance review ourselves or validate your own internal audit function’s self-assessment. Our internal audit professionals have experience working with organizations of all types and sizes – in almost every industry.
We’ll help you capture the benefits of an assurance review so you can take your internal audit department’s performance to the next level.
As per the executive bylaw module fifteen corporate governance article 6-9 which states “An independent audit firm shall be assigned to evaluate and review the internal audit systems and prepare a report in this regard (Internal Control Report), which shall be submitted to the Authority per annum. In addition, another auditing firm shall revise and evaluate the internal audit department/office/ unit periodically every three years, provided that both the internal audit committee and the Board of Directors shall be provided with a copy of such report”.
Audit & Assurance Services
Contact
- +965 2247 9823
- +965 2247 9824
- [email protected]
- Panasonic Tower, 23rd Floor, Fahad Al Salem Street, Qibla, Kuwait
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