IIA-Australia Factsheet - Quality Assurance and Improvement Program

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Author	IIA-Australia
Date	2025
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	The Global Internal Audit Standards requires the Chief Audit Executive to develop and maintain a Quality Assurance and Improvement Program that covers all aspects of the Internal Audit activity.
Key Points	Many internal audit functions do not have a single document containing a formal Quality Assurance and Improvement Program which includes both internal assessments and external assessments. The Global Internal Audit Standards require ongoing internal monitoring of the internal audit function as well as periodic self-assessment. The Global Internal Audit Standards also require an external quality assessment every five years by a suitably qualified assessor.
Relevant Industries	All
Level of Assumed Knowledge	Beginner
Aligned to Global Internal Audit Standards	Yes