Ensure internal audit meets standards and gain performance insights.
How do you know your internal audit function is providing value to the organization? Are they following professional guidance and industry standards? Astute audit committees and savvy Chief Audit Executives look to accredited professionals for an internal audit quality assurance review to answer these questions.
According to the Institute of Internal Auditors (IIA) standards, external assessments such as a quality assurance review, should be conducted at least once every five years by a qualified, independent reviewer or review team from outside the organization. The quality assurance review ensures that an organization’s internal audit program meets the expectations of the IIA’s International Standards for the Professional Practice of Internal Audit.
Whether it’s time for your external assessment, or you want to make sure you transition to IIA standards the right way, or you just want to get a better understanding of the value of your internal audit function, Wipfli is here to help. Use our team to help build your quality assurance improvement program, perform your independent testing, implement any improvements, make sure you comply with IIA standards, and make your internal audit function the best it can be.
Featured Thought Leader
Sarah G. Lutzke, CIA
Sarah leads the internal audit service line for Wipfli. Still deeply involved with her clients, Sarah leads outsourced internal audit engagements and manages co-sourced arrangements, ensuring Wipfli’s risk management consulting assistance is tailored to the individual circumstances of each client. Sarah has the experience and ability to evaluate controls within a process and provide sensible recommendations to strengthen operating environments.
Carrie Connell, CPA
Carrie has over 15 years of experience in assisting clients with Sarbanes-Oxley Section 404 compliance for accelerated filers and smaller reporting companies, FDICIA compliance, and operational and financial internal audits. She helps both public and private financial institutions ready themselves for and comply with SOX/404 and FDICIA reporting requirements and provides ongoing consultative advice to clients to continuously improve their programs.