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. ..