Quality assessment of an internal audit function
External quality assessment (QA) of an internal audit function according to Standard No. 3 of the Deutsches Institut für Interne Revision (DIIR).
According to the International Standards for the Professional Practice of Internal Auditing (IIA Standards; in particular 1300 et seq.), the quality of the internal auditing system should be assessed by independent auditing experts at least once every five years.
A suitable and effective internal auditing function helps the executive management and the audit management prove compliance with their respective due diligence obligations. An external quality assessment (QA) provides an important contribution for the assessment of the internal auditing function.