Does your Internal Audit Department have a QA review program? If yes, do you leverage sampling when QAing an audit project? Or do you look at all the work within a projected selected for QA?
Sort By:
Oldest
Vice President - Internal Audit and Enterprise Risk Management in Healthcare and Biotecha year ago
We have a standardized workpaper that we use to conduct our QAR assessments, and we review each selected engagement completely using that workpaper. The engagements themselves are selected on a sample basis throughout the year.India Head and Director of Global Finance Shared Services in Hardwarea year ago
Yes, our Internal Audit Department have QA review program. We apply sampling to cover high risk areas which have a history of out of period adjustments. This Program covers all the work and is not specific to audit project work. SVP Corporate Audit in Energy and Utilities8 months ago
Yes, KPMG looked at our audit processes and evaluated them with ISO 9001. We have that certification from KPMG. In addition, we do a review with the auditees after every audit, and every six months we have an internal net promoter review. All of the execs within the organization give us a score between nought to 10 and provide comments on our performance. So there's a quality assessment to deal with the department through our Net Promoter score as well. It's important to me to understand why they score us as they do. If they mark us down because the process hasn't worked effectively, for example, with ineffective communication, then that concerns me as I want the audit process to be effective.However, if we receive a poor score because they didn't like receiving a, say, red audit, then I'm less concerned. At the end of the day, the score is less important to me, it's the comments that are important, as we can learn from them and improve our processes, so we follow up individually with all of the detractors to understand their viewpoint.
Director of Internal Audit in Healthcare and Biotech8 months ago
Yes. We have internal QA review program and we leverage sampling. Typically risk based and also coverage driven as we want to review at least one audit project from each manager.
We do look at all the work for the project selected for the QA review and validity.