ABSTRACT

Internal auditors are required to implement a Quality Assurance and Improvement Program (QAIP) covering all aspects of the internal audit activity. Requires ongoing monitoring of the work and periodic assessments by others within the organization who are familiar with the work of the internal auditors. External assessments must be conducted at least once every 5 years by a qualified, independent assessor, or assessment team from outside the organization. Surveys are a common way to perform the periodic assessments and obtain feedback from audit clients within the organization. The Global Internal Audit Common Body of Knowledge (CBOK) project by the IIA Research Foundation (IIARF) shows that only 9 percent of respondents said their audit departments were using exit surveys in 2010. The QAIP provides valuable information to evaluate the quality of the work of internal auditors. A QAIP has two components: Internal assessments performed on an ongoing basis, focusing primarily on workpaper quality and audit execution.