Internal Audit Quality Assessments

External Quality Assessment

The “International Standards for the Professional Practice of Internal Auditing” of the Institute of Internal Auditors (IIA) require organizations to have their internal audit function assessed by an independent external party at least once every five years.

FSV Risk Advisory does more than this mandatory part of an IIA quality assessment. We do not only provide insight into the extent to which the IIA Standards are met. We also focus on questions such as: We also focus on questions such as:

  • What is the added value of your internal audit function for your organization.
  • Does internal audit meet the objectives and expectations of management and the Audit Committee.

In addition, based on our extensive experience in performing quality assessments, we are able to provide you with:

  • concrete suggestions for improving the quality of the audit process; and
  • relevant “best practices.

Our quality assessment methodology is based on the 4 P’s of Effective Performance Management: Purpose, Positioning, People and Process. This framework includes all elements of the IIA’s “International Professional Practices Framework” (IPPF).

Our professionals (“Certified Quality Assessors”) have extensive experience and expertise in performing quality assessments. We are the largest party in this field in the market (source: https://www.iia.nl/kwaliteit/toezicht-kwaliteitstoetsingen). We also work with a fixed team of professionals, which guarantees continuity, quality and expertise.

In the field of external quality assessments, FSV Risk Advisory can support you with:

  • External Quality Assessment
  • Self Assessment met Independent Validation (SAIV)
  • Readiness Check

Quality Improvement

Thanks to our extensive experience with External Quality Assessments, combined with our managerial experience, we are in an excellent position to support you in setting up a (new) internal audit function or quality improvement / optimization of an existing internal audit function. We provide you with “best practices”.

How to increase the added value(s) of internal auditing? There is no “one size fits all” for this. Every organization is unique, and an internal audit function should be tailored to the organization. We are the advisory firm you need. The ‘style’ of internal audit must be appropriate: size, composition, expertise and activities must be tailored to the needs of the organization.

We map out the ambitions and objectives of the internal audit function and offer concrete tools to achieve them. In this way we make an active contribution to the qualitative growth of your internal audit function.

In the field of Quality Improvement FSV Risk Advisory can support you with:

  • Designing and setting up an internal audit function
  • Optimizing the internal audit function, through:
    • Interactive Workshop(s)
    • Quick Scan
    • Benchmarking
    • Etc.
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