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    0 views2 pages

    Internal Audit Maturity Assessment

    Uploaded by

    Well Durano Casas

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 2

    Internal Audit Maturity Assessment

    Standard 1200 Standard 1300 Standard 2000


    Standard 1000 Standards 1100
    Internal Audit Proficiency and Quality Assurance Managing the Standard 2100
    Purpose, Authority Independence and
    Maturity Rating and Responsibility Objectivity
    Due Professional and Improvement Internal Audit Nature of Work
    Care Program Activity
    Internal Audit Charter in Internal Audit reporting Internal Audit resources are Documented ongoing and Internal Audit policies and Internal Audit focuses on
    place, reviewed and arrangements defined in credentialed, specialist periodic Quality Assurance procedures in place, Internal controls, risk and
    approved by Audit Internal Audit Charter, resources are available when Program in place, Quality Audit plans linked to governance, Internal Audit
    Committee on annual basis, specifies good practice required, annual Risk Assurance activities occur for corporate objectives, plans are clearly linked to
    clearly linked to corporate reporting arrangements, Assessment conducted, internal audit engagements, effective Internal Audit enterprise-wide view of risk
    governance objectives, independence and objectivity ongoing and periodic Quality Internal Assessment reporting arrangements, and plans are periodically
    Optimising specifies good practice requirements defined by Assurance processes in conducted annually, External audit client feedback sought, adjusted, Internal Audit uses
    Internal Audit reporting Internal Audit policy place, training programs Assessment conducted at performance measures in recognised control
    arrangements including requirement for reinforce Internal Audit least every 5 years place and used to drive frameworks in its work
    conflict of interest disclosure, credentials and support continuous improvement
    annual attestation required execution of Internal Audit
    by Internal Audit staff work
    Internal Audit Charter in Internal Audit reporting Internal Audit resources are Documented ongoing and Internal Audit policies and Internal Audit focuses on
    place, reviewed and arrangements defined in credentialed, some specialist periodic Quality Assurance procedures in place, Internal controls, risk and
    approved by Audit Internal Audit Charter, resources are available, Program in place, Quality Audit plans linked to governance, Internal Audit
    Committee on annual basis, specifies good practice annual Risk Assessment Assurance activities occur for corporate objectives, plans are clearly linked to
    clearly linked to corporate reporting arrangements, conducted, ongoing and internal audit engagements, effective Internal Audit enterprise-wide view of risk
    Managed governance objectives independence and objectivity periodic Quality Assurance Internal Assessment reporting arrangements, and plans are periodically
    requirements defined by processes in place conducted annually audit client feedback sought adjusted
    Internal Audit policy
    including requirement for
    conflict of interest disclosure

    Internal Audit Charter in Internal Audit reporting Some Internal Audit Ongoing and periodic Quality Internal Audit policies and Internal Audit focuses on
    place, reviewed and arrangements defined in resources are credentialed, Assurance Program elements procedures in place, Internal controls, risk and
    approved by Audit Internal Audit Charter, some specialist resources in place, Quality Assurance Audit plans linked to governance
    Committee on a periodic specifies good practice are available, annual Risk activities occur for internal corporate objectives,
    Implemented basis reporting arrangements Assessment conducted, audit engagements effective Internal Audit
    ongoing Quality Assurance reporting arrangements
    processes in place

    Internal Audit Charter in Internal Audit reporting Internal Audit resources are Some ongoing Quality Internal Audit policies and Internal Audit focuses on
    place and approved by Audit arrangements defined in partially credentialed, Assurance Program elements procedures in place, Internal controls and risk
    Committee Internal Audit Charter, but specialist resources may be in place, some Quality Audit plans linked to
    Defined not good practice reporting available, annual Risk Assurance activities occur for corporate objectives
    arrangements Assessment conducted, internal audit engagements
    some ongoing Quality
    Assurance processes in place
    No Internal Audit Charter or Internal Audit reporting Internal Audit resources not No formal Quality Assurance No Internal Audit policies Internal Audit focuses on
    in draft or not approved by arrangements not defined in credentialed, no specialist Program in place, some and procedures in place, controls
    Audit Committee Internal Audit Charter or resources, no annual Risk Quality Assurance activities Internal Audit plans not
    Initial reporting arrangements not Assessment, limited ongoing may occur for internal audit linked to corporate
    in line with good practice Quality Assurance processes engagements objectives
    in place

    Copyright © 2017 by The Institute of Internal Auditors–Australia


    Standard 2600
    Standard 2200 Standard 2300 Standard 2400 Standard 2500
    Internal Audit Communicating the
    Engagement Performing the Communicating Monitoring Code of Ethics
    Maturity Rating Planning Engagement Results Progress
    Acceptance of
    Risks
    Planning performed in Internal Audit policies and Reporting protocol Follow-up protocol Escalation protocol defined, Organisation Code of
    collaboration with procedures clearly define established for established, follow-up on process clearly understood Conduct established, IIA
    stakeholders, planning internal audit engagement communicating results, implementation of audit by Internal Audit and Code of Ethics is embedded
    adjusted for differing process, Audit Work Plans reporting done consistently recommendations performed management, collaborative in Internal Audit policies,
    circumstances, planning are tailored for each from content and format consistently, reporting to approach to resolution, clear ethics training is conducted,
    documented, consistent engagement, supervisory perspective, CAE reviews Audit Committee on status of definition of level of risk that Internal Audit staff complete
    methodology applied to review and sign-off occurs, and signs-off audit reports audit recommendations, can be assumed by annual Code of Ethics
    Optimising internal audit engagements, automated audit working before issue, management automated system for Management that precludes declaration
    supervisory review and sign- paper system in place, input to reporting is actively receiving progress updates need for escalation protocol
    off occurs CAATs and other audit sought, reports contain from management, high rate
    techniques actively used management comments and of audit recommendation
    agreed actions, Internal clearance
    Audit prepares reports that
    show systemic issues found
    through its work
    Planning performed in Internal Audit policies and Reporting protocol Follow-up protocol Escalation protocol defined, Organisation Code of
    collaboration with procedures clearly define established for established, follow-up on process clearly understood Conduct established, IIA
    stakeholders, planning internal audit engagement communicating results, implementation of audit by Internal Audit and Code of Ethics is embedded
    documented, consistent process, Audit Work Plans reporting done consistently recommendations performed Management, collaborative in Internal Audit policies,
    methodology applied to are tailored for each from content and format consistently, reporting to approach to resolution ethics training is conducted
    Managed internal audit engagements, engagement, supervisory perspective, CAE reviews Audit Committee on status of
    supervisory review and sign- review and sign-off occurs, and signs-off audit reports audit recommendations
    off occurs may have automated audit before issue, reports contain
    working paper system in management comments and
    place actions to implement
    recommendations
    Planning performed and Internal Audit policies and Reporting protocol Follow-up protocol Escalation protocol defined, Organisation Code of
    documented, consistent procedures clearly define established for established, follow-up on process clearly understood Conduct established, IIA
    methodology applied to internal audit engagement communicating results, implementation of audit by Internal Audit and Code of Ethics is embedded
    internal audit engagements, process, Audit Work Plans reporting done consistently recommendations performed Management in Internal Audit policies
    supervisory review and sign- are tailored for each from content and format consistently
    Implemented off occurs engagement, supervisory perspective, CAE reviews
    review and sign-off occurs and signs-off audit reports
    before issue

    Planning performed and Some elements of Internal Reporting protocol Follow-up protocol No escalation protocol Organisation Code of
    documented, consistent audit engagement process established for established, follow-up on established, Management Conduct established, IIA
    methodology applied to defined, standard Audit Work communicating results, implementation of audit may assume inappropriate Code of Ethics receives some
    Defined internal audit engagements Plans used reporting done inconsistently recommendations occurs but level of risk attention
    from content and format not performed consistently
    perspective

    Planning not performed or Internal audit engagement Reporting protocol not No follow-up protocol No escalation protocol Organisation Code of
    documented, no consistent process not clearly defined established for established, follow-up on established Conduct not established, IIA
    methodology applied to or Audit Work Plans not communicating results, implementation of audit Code of Ethics does not
    Initial internal audit engagements prepared for internal audit reporting is ad hoc recommendations not receive formal attention
    engagements performed consistently or
    not performed

    Copyright © 2017 by The Institute of Internal Auditors–Australia

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