The release of the IIA’s updated Quality Assessment Manual made me think about the differences and the stresses between:
- Quality
- Conformance (a.k.a. compliance)
- Efficiency
- Effectiveness
The IIA says:
For the first time, The IIA’s Quality Assessment Manual is authoritative IIA Global Guidance in this 2024 edition. The manual now incorporates the requirements of the 2024 Global Internal Audit Standards that will be effective for quality assessments beginning January 9, 2025.
This edition features:
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- A model for concluding on the quality of the internal audit function based on the function’s conformance with the Standards and achievement of the Principles.
- An overview of the different types of quality assessments: internal, external, self-assessment with independent validation, gap, and maturity.
- A process for planning a quality assessment, including team selection, the initial data request, and communications between the assessment team, the internal audit function, and other stakeholders.
- An approach to assessing the internal audit function’s achievement of the intent of Domain I: Purpose of Internal Auditing.
- Guidance for assessing conformance with the standards and achievement of the Principles in Domains II through V.
- Domain-level fieldwork templates to be used in conjunction with the respective…
