IIA-Australia Factsheet - Who Audits the Auditor

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Author	IIA-Australia
Date	2022
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	Internal audit examines many parts of the organisation, so it is only natural the quality of internal audit itself should be reviewed from time-to-time.
Key Points	The quality of a product or service is the degree to which the product or service meets the customer’s expectations. Where internal audit is mandated in a jurisdiction or industry sector, conformance to the mandatory internal audit requirements should also be included. The external assessment process usually includes confidential discussions with audit committee members, chief executive officer and senior management. It is a way of demonstrating to the audit committee and senior management the value that Internal Audit is adding to the organisation.
Relevant Industries	All
Level of Assumed Knowledge	Intermediate