1 12 steps to preparing for a QAR
2 12 steps to preparing for a QAR
DECISION MAKING
01.
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Select Type of Assessment
01. Decision making
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Select Type of Assessment
Communication from Audit Committee/Board
01. Decision making
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Select Type of Assessment
Communication from Audit Committee/Board
Awareness
01. Decision making
6 12 steps to preparing for a QAR
Select Type of Assessment
Communication from Audit Committee/Board
Awareness
Project Plan
01. Decision making
7 12 steps to preparing for a QAR
Select Type of Assessment
Communication from Audit Committee/Board
Awareness
Project Plan
Select QAR team
01. Decision making
8 12 steps to preparing for a QAR
SELF-ASSESSMENT
02.
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CAE completed a self-study Benchmark against:
• Prior report • Industry / Peer • IIA Standards
02. self-assessment
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PLANNING 03.
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03. Planning
Background Information and Document Request Checklist
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03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
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03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
Internal Audit Staff (A2)
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03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
Internal Audit Staff (A2)
Internal Audit Management (A3)
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03. Planning
Background Information and Document Request Checklist
Internal Audit Governance (A1)
Internal Audit Staff (A2)
Internal Audit Management (A3)
Internal Audit Process (A4)
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INFORMATION & REQUEST LIST
04.
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04. Information & Request List
Background Information and Document Request Checklist:
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04. Information & Request List
Background Information and Document Request Checklist: • Collect basic information used during
the assessment
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04. Information & Request List
Background Information and Document Request Checklist: • Collect basic information used during
the assessment • Key Documentation
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GATHERING 05.
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05. Gathering
Analyzing the information:
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05. Gathering
Analyzing the information: Identifying any significant changes
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05. Gathering
Analyzing the information: Identifying any significant changes Planning who will obtain surveys (next step)
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05. Gathering
Analyzing the information: Identifying any significant changes Planning who will obtain surveys (next step) High level roadmap
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SURVEYS 06.
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06. Surveys
Stakeholders Executive Leadership & Operating Management IA Staff CAE expectations
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06. Surveys
Survey Result Comparisons Opportunities for improvement Areas of strength Areas for further investigation during interviews Trends
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FIELDWORK 07.
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07. Fieldwork Perform on-site fieldwork:
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07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures
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07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk
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07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning
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07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements
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07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements Review of number & skills of internal audit staff
35 12 steps to preparing for a QAR
07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements Review of number & skills of internal audit staff Evaluate adequacy of IT audit coverage
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07. Fieldwork Perform on-site fieldwork:
Review of administrative policies and procedures Consideration of enterprise risk Evaluation of risk assessment in audit planning Review of working papers and final reports for selected engagements Review of number & skills of internal audit staff Evaluate adequacy of IT audit coverage Audit vs. Consultancy
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INTERVIEW 08.
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08. Interview
• Interview Guides (Focus Groups/One-on-One) Reveal more honest opinions than surveys
Board members
Executive management
Field managers
Internal audit staff
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08. Interview
• Interview Guides (Focus Groups/One-on-One) Level of interviews
Size of the organization Availability Interaction with the IA Activity
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PROGRAMS 09.
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09. Programs
• Specifically designed work programs for each of the four process segments
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09. Programs
• Using documentation collected from the documentation checklist, survey, and interview results:
Determines the IA activity’s conformance with the Standards Assess the efficiency and effectiveness of the IA activity Identify opportunities for improvement
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EVALUATION 10.
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10. Evaluation
IIA Standards
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10. Evaluation
IIA Standards Relevant Standards
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10. Evaluation
IIA Standards Relevant Standards Value Add/Consulting Engagements
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DELIVERABLE/ REPORTING
11.
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11. Deliverable/ Reporting
Summary of issues Process improvement areas Opinion Report – Objective and scope – Overall compliance evaluation – Standards and conformance levels
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COMMUNICATION
12.
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Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
12. communication
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Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
Obtain feedback and comments
12. communication
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Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
Obtain feedback and comments Follow up executive conference
12. communication
53 12 steps to preparing for a QAR
Final report – Addressed to the CAE – Present to the board – Documentation of conformance with the
Standards
Obtain feedback and comments Follow up executive conference Memo to the organization
12. communication
54 12 steps to preparing for a QAR
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