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A Quality Assessment Review (or known as a “QAR”) is a comprehensive review of the overall effectiveness of an internal audit function. Internal audit professionals think a QAR is the best way to see the “reflection in the mirror.” It assesses compliance with professional standards; the effectiveness and efficiency of function activities; organization, resource and skill capabilities; and the evaluation and fulfillment of stakeholder needs. It also identifies strengths and improvement opportunities that strategically position the internal audit function for ongoing success. ..

The simple truth is that a Quality Assessment Review (QAR) is a mandatory event. Failure to perform a QAR could result in penalties and fees. It leaves the audit department and the corporation open to unwelcomed critique and the need to proclaim that they are non-compliant. ..

How do I prepare, get the right service providers, and select the right type of internal and external auditors?  ..

Compliance Specialists Offer Strategic Efficiency Partnerships ..

Over 20 years in the making and it effects over 98% of US companies, COSO has updated its framework and most organizations will have to comply with this new framework in 2014. Learn why this framework was even changed and how it will impact your organization. ..

Most organizations are still unhappy with the performance of their external auditor’s reliance on management’s work product for SOX 404. A recent 2013 Protiviti SOX 404 survey reveals 37% of the participants are unhappy with their external auditor’s performance when it comes to their reliance on their SOX 404 work. One solution to this problem is getting more creative and innovative. According to Mike Jacka, President and Co-Founder and Chief Creative Pilot of Flying Pig Audit and well known International IIA Speaker, “asking the right questions” gets better results. These better results achieve the right audit approach for the organization. Jacka believes that Internal Audit departments need to be innovative and creative when dealing with their internal clients, or as some call them key stakeholders. ..

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Learn valuable information on the new COSO Framework from Sonia Luna, the CEO of Aviva Spectrum. ..

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