12 steps to preparing for a qar
DESCRIPTION
Effective January 1, 2002, the Institute of Internal Auditors (IIA) released updated standards in the International Professional Practices Framework (IPPF). Internal auditing departments, according to Standard 1312 of the IPPF, must complete an external assessment once every five years from a qualified independent assessor or assessment team.TRANSCRIPT
1 12 steps to preparing for a QAR
2 12 steps to preparing for a QAR
DECISION MAKING
01.
3 12 steps to preparing for a QAR
Select Type of Assessment
01. Decision making
4 12 steps to preparing for a QAR
Select Type of Assessment
Communication from Audit Committee/Board
01. Decision making
5 12 steps to preparing for a QAR
Select Type of Assessment
Communication from Audit Committee/Board
Awareness
01. Decision making
6 12 steps to preparing for a QAR
Select Type of Assessment
Communication from Audit Committee/Board
Awareness
Project Plan
01. Decision making
7 12 steps to preparing for a QAR
Select Type of Assessment
Communication from Audit Committee/Board
Awareness
Project Plan
Select QAR team
01. Decision making
8 12 steps to preparing for a QAR
SELF-ASSESSMENT
02.
9 12 steps to preparing for a QAR
CAE completed a self-study Benchmark against:
• Prior report • Industry / Peer • IIA Standards
02. self-assessment
10 12 steps to preparing for a QAR
PLANNING 03.
11 12 steps to preparing for a QAR
03. Planning
Background Information and Document Request Checklist
12 12 steps to preparing for a QAR
03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
13 12 steps to preparing for a QAR
03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
Internal Audit Staff (A2)
14 12 steps to preparing for a QAR
03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
Internal Audit Staff (A2)
Internal Audit Management (A3)
15 12 steps to preparing for a QAR
03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
Internal Audit Staff (A2)
Internal Audit Management (A3)
Internal Audit Process (A4)
16 12 steps to preparing for a QAR
INFORMATION & REQUEST LIST
04.
17 12 steps to preparing for a QAR
04. Information & Request List
Background Information and Document Request Checklist:
18 12 steps to preparing for a QAR
04. Information & Request List
Background Information and Document Request Checklist: • Collect basic information used during
the assessment
19 12 steps to preparing for a QAR
04. Information & Request List
Background Information and Document Request Checklist: • Collect basic information used during
the assessment • Key Documentation
20 12 steps to preparing for a QAR
GATHERING 05.
21 12 steps to preparing for a QAR
05. Gathering
Analyzing the information:
22 12 steps to preparing for a QAR
05. Gathering
Analyzing the information: Identifying any significant changes
23 12 steps to preparing for a QAR
05. Gathering
Analyzing the information: Identifying any significant changes Planning who will obtain surveys (next step)
24 12 steps to preparing for a QAR
05. Gathering
Analyzing the information: Identifying any significant changes Planning who will obtain surveys (next step) High level roadmap
25 12 steps to preparing for a QAR
SURVEYS 06.
26 12 steps to preparing for a QAR
06. Surveys
Stakeholders Executive Leadership & Operating Management IA Staff CAE expectations
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06. Surveys
Survey Result Comparisons Opportunities for improvement Areas of strength Areas for further investigation during interviews Trends
28 12 steps to preparing for a QAR
FIELDWORK 07.
29 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
30 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures
31 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk
32 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning
33 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements
34 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements Review of number & skills of internal audit staff
35 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements Review of number & skills of internal audit staff Evaluate adequacy of IT audit coverage
36 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements Review of number & skills of internal audit staff Evaluate adequacy of IT audit coverage Audit vs. Consultancy
37 12 steps to preparing for a QAR
INTERVIEW 08.
38 12 steps to preparing for a QAR
08. Interview
• Interview Guides (Focus Groups/One-on-One) Reveal more honest opinions than surveys
Board members
Executive management
Field managers
Internal audit staff
39 12 steps to preparing for a QAR
08. Interview
• Interview Guides (Focus Groups/One-on-One) Level of interviews
Size of the organization Availability Interaction with the IA Activity
40 12 steps to preparing for a QAR
PROGRAMS 09.
41 12 steps to preparing for a QAR
09. Programs
• Specifically designed work programs for each of the four process segments
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09. Programs
• Using documentation collected from the documentation checklist, survey, and interview results:
Determines the IA activity’s conformance with the Standards Assess the efficiency and effectiveness of the IA activity Identify opportunities for improvement
43 12 steps to preparing for a QAR
EVALUATION 10.
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10. Evaluation
IIA Standards
45 12 steps to preparing for a QAR
10. Evaluation
IIA Standards Relevant Standards
46 12 steps to preparing for a QAR
10. Evaluation
IIA Standards Relevant Standards Value Add/Consulting Engagements
47 12 steps to preparing for a QAR
DELIVERABLE/ REPORTING
11.
48 12 steps to preparing for a QAR
11. Deliverable/ Reporting
Summary of issues Process improvement areas Opinion Report – Objective and scope – Overall compliance evaluation – Standards and conformance levels
49 12 steps to preparing for a QAR
COMMUNICATION
12.
50 12 steps to preparing for a QAR
Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
12. communication
51 12 steps to preparing for a QAR
Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
Obtain feedback and comments
12. communication
52 12 steps to preparing for a QAR
Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
Obtain feedback and comments Follow up executive conference
12. communication
53 12 steps to preparing for a QAR
Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
Obtain feedback and comments Follow up executive conference Memo to the organization
12. communication
54 12 steps to preparing for a QAR
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