Gaining Trust and Adding Value….with a sleek and efficient QAIP
The presentation will set the stage with a brief review of the evolution of Internal Audit Quality Guidance over the last few years. It will provide context and highlight how “principles-based” guidance allows agility in designing the governance, risk management and control over Internal Audit strategy and operations.
We’ll then tell a real-life success story of a small audit shop’s effective QAIP approach in enhancing its quality culture. The talking points include: how the audit shop designed its QAIP program to efficiently conform to the Standards and fit its stakeholders’ needs; how it used automated toolkits and pilot testing to ensure the program’s feasibility and efficiency during its formalization and implementation; how the QAIP results contributed to audit activity’s quality and agility; how QAIP process helped strengthen stakeholders’ trust on internal audit’s credibility; and how QAIP process engaged all audit staff and helped educate Audit Committee.
Finally, we’ll summarize how conformance can provide the discipline expected by the Standards while contributing to the agility of internal audit in adding value, gaining trust and contributing to the attainment of management objectives.