Quality Assurance & Improvement Program (QAIP) Assessment

EDelta’s Objectives:

Assist you in developing a Quality Assurance & Improvement Program (QA&I Program) that provides reasonable assurance your Internal Audit Department resources and mission are directed towards adding value, and improving the operations of your organization.

This QA&I Program is designed to provide sufficient evidence the Internal Audit Department is:

  • Operating in compliance with professional expectations, including the International Standards for the Professional Practice of Internal Auditing;
  • Meeting the expectations of Executive Management and the Board of Directors of your organization;
  • Striving to improve upon the efficiencies and effectiveness of Department operations – resources, technology, and best practices; and,
  • Monitoring the effectiveness of the QA&I Program.

eDelta’s Action Plan:

  • Benchmark Your Department policies and procedures against the International Standards for the Professional Practice of Internal Auditing (Standards).
  • Evaluate compliance with professional expectations (Standards) based upon examination of evidence provided and a review of selected audit files.
  • Evaluate the appropriateness and completeness of the Internal Audit Department Charter.
  • Evaluate evidence of communications with executive management and the Audit Committee of the Board of Directors for appropriateness, completeness and frequency.
  • Evaluate the appropriateness of internal audit services you provide to your organization.
  • Evaluate how the Department measures and monitors internal audit effectiveness, including “best practices.”
  • Evaluate the coordination of activities with other internal and external providers to ensure proper audit coverage and minimize duplication.
  • Evaluate the appropriateness and completeness of the Risk Assessment Methodology used in developing the Audit Plan.
  • Evaluate the Global Audit Plan to determine:
  1. Appropriateness and completeness.
  2. Communication of the Audit Plan for approval to executive management and the Audit Committee of the Board of Directors, including resource limitations.
  3. Adequacy of resources to achieve the Audit Plan.
  • Evaluate the tools/checklists/audit programs, etc. you use to provide guidance in the successful completion of an audit engagement.
  • Review and evaluate selected audit files representative of the different types of audits performed for the following:
  1.  Audit Planning process, including risk assessment, scope of work and staff selection
  2.  Process for conducting audits (fieldwork), including interim communications and closing conference
  3. Documentation – completeness, appropriateness, adherence to the rules of audit evidence, etc.
  4. Audit Report
  5. Follow Up procedures
  • Exercising Due Professional Care
  • Supervision
  • Performance Evaluation
  • Optional: Provide guidance in preparation for an external peer review, including:
  1.  Listing of information to be accumulated for the review.
  2. Assistance in preparing a proposal for an external peer review.
  • Optional: Provide guidance in performing a self evaluation for the purpose of preparing for an external validation (if this alternative to an external peer review is selected), including:
  1. Listing of information to be accumulated.
  2. Providing examples of questionnaires and surveys used in (a) soliciting client, executive management and audit committee comments, and (b) obtaining internal audit staff input

eDELTA Reporting:

Possible improvements/enhancements noted during our review will be adequately detailed to permit necessary corrective action.  Additionally, if deemed appropriate, “tools” to assist the Department in implementing a comprehensive QA&I Program will be developed and provided to the Chief Audit Executive.  Our report at the conclusion of the engagement will summarize our observations, including possible opportunities for improvement and acknowledge Department accomplishments.  Evaluation of the appropriateness of information technology internal audit services you provide to your Organization will also be reported.

Specifically excluded from the scope of this engagement:

  • Solicitation of comments/input directly from executive management, the Audit Committee of the Board of Directors and members of the Internal Audit Department staff.

 eDELTA Schedule for QAIP:

  • Examination of Department information provided by Internal Audit.
  • Five days on-site at your organization to review selected audit files, following the examination.
  • Examination of requested information within approximately 10 business days following receipt.
  • Final report issued within 10 business days after completing on-site review of audit files.