The Very Small Public Sector Audit Shop – Effectiveness and Conformance are Possible!
In 2010, the first CAE at the CGC was appointed and presented with a massive challenge. Build an effective internal audit function that would deliver high quality assurance for the Chief Commissioner, and comply with all federal government policies and the IIA Standards…with two full-time permanent staff, reduced to one two years later during an organization-wide restructuring. The CAE was also expected to set up and facilitate a Departmental Audit Committee, and serve as Senior Office for Disclosure to accept internal reports of potential wrongdoing (ie whistle blowing).
The first and most important decision was to hire two outstanding professional internal auditors. One moved to another area of the CGC during the restructuring of 2012. The other, Senior Internal Auditor, was been instrumental in the success of the unit. With a less-than-fulltime CAE and one professional staff member, the CGC’s internal audit function set out to deliver exceptional service to the organization’s leadership and comply with federal government policy/directive on internal audit while also conforming with IIA Standards.
This presentation will share the strategies and approaches for this very small audit shop success story including how such a small unit can conform with IIA Standards. The story will include the approach to risk assessment and short and long term audit planning, collaborative audit approaches, use of “advisory services” and other non-audit work to enhance assurance activities, streamlining reporting processes, and creatively engaging additional resources.