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Overview

The Institute of Internal Auditors’ (IIA) International Standards for the Professional Practice of Internal Auditing (Standards), Standard 1300 requires that all internal audit activities maintain a quality assurance and improvement program that contains both ongoing internal assessments as well as external assessments performed once every five years by a qualified, independent assessor.

The Brown Smith Wallace Advisory Services team consists of seasoned internal audit professionals and former chief audit executives who are Certified Internal Auditors (CIAs) and experts on the Standards.  Our professionals have conducted numerous Quality Assurance Reviews and have assisted internal audit departments with improving their Quality Assurance and Improvement Programs.

To assist chief audit executives with establishing or improving their Internal Audit Quality Assurance and Improvement Program, Brown Smith Wallace provides the following services:

  1. Quality Assurance and Improvement Program Consulting and Implementation – We will consult with you and assist with the development and implementation of a quality assurance and improvement program that will ensure conformance with the standards.
  2. Readiness Assessment – We will provide you with an independent assessment focused on conformance with the Standards and offer recommendations for remediation of any deficiencies identified as well as any opportunities to further improve.
  3. Self-Assessment with Independent Validation – Utilizing the IIA Quality Assessment Manual and tools, we will review and substantiate the work of your internal self-assessment team and validate your assessment of conformance with the Standards. We will sign off on your report of conformance or issue a disparities report with recommendations for remediation and improvement. This approach meets the requirements for an external assessment once every five years.
  4. Quality Assessment Review - Utilizing the IIA Quality Assessment Manual and tools, we will conduct surveys, interviews, and documentation reviews leading to an opinion on your conformance to the Standards. We will also provide recommendations for remediation and improvement for adding value to the organizations. This approach is the most comprehensive approach and meets the requirements for an external assessment once every five years as well as provides an assessment of your internal audit activity’s effectiveness.

Our Advisory Services team goes above and beyond just the technical requirements, providing feedback and suggestions for improvements for your organization. Our extensive knowledge of the internal auditing profession allows us to conduct these services efficiently and, most importantly, gives us the perspective to provide value-added feedback to your internal audit activity.

If you need assistance with your Internal Audit Quality Assurance and Improvement Program, please complete the adjacent form or contact us to schedule a meeting.  

Should you have any questions, please feel free to contact Ron Steinkamp, Advisory Partner at rsteinkamp@bswllc.com or 314.983.1238.

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