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WHY Do a Quality Assessment Review? The Gold Standard Set by the IIA

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. ..


Why COSO Changed?

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. ..


How to be CREATIVE and INNOVATIVE when implementing COSO’s New Framework?

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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