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Self Assessment

Self assessment is undertaken by internal auditors to achieve one of three purposes:

Ongoing Internal Assessment

Internal Auditors are required to undertake oingoing internal assessment of the Internal Audit activity. This includes activities such as engagement supervision and performance management of staff.

Periodic Internal Assessment

Internal Auditrs should establish a process for undertaking periodic internal assessment of the anternal audit activity. This could include activities such as client satisfaction surveys, assessment against specific standards and peer reviews of working papers.

Self Assessment with Independent Validation

Self assessment with independent validation is actually a form of external assessment. It requires the CAE to undertake a self assessment against each of the Standards, and then to have this assessment validated by an external reviewer. The reviewer must meet the requirements for an external reviewer under the Standards - they need to be independent of the organisation and appropriately qualified and experienced. Self assessment with independent validation can be an attractive option for achieving the external assessment requirements, particularly for very small audit shops.

Self assessment with independent validation is actually a form of external assessment. It requires the CAE to undertake a self assessment against each of the , and then to have this assessment validated by an external reviewer. The reviewer must meet the requirements for an external reviewer under the  - they need to be independent of the organisation and appropriately qualified and experienced. Self assessment with independent validation can be an attractive option for achieving the external assessment requirements, particularly for very small audit shops.




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