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​Guidance Resources

The International Professional Practices Framework (IPPF) Standard 1300 series requires a Chief Audit Executive (CAE) to develop and maintain a Quality Assurance and Improvement Program (QAIP). A QAIP enables an evaluation of the internal audit activity’s conformance with the Definition of Internal Auditing and the Standards and an evaluation of whether internal auditors apply the Code of Ethics. The program also assesses the efficiency and effectiveness of the internal audit activity and identifies opportunities for improvement.

The required elements of a QAIP include ongoing and periodic internal assessments, which lay the foundation for external assessments and together establish conformance with the Standards. If you have not yet established a QAIP, conducting your own internal assessment is a good first step. This will establish a benchmark of the internal audit activity and can be used to establish metrics. These metrics will indicate improvement in areas of conformance with the Standards.

Added Value

The QAIP provides a means for evaluation of conformance with the Standards and also provides evidence to the audit committee and management that the internal audit activity adds value through improving an organization's operations and contributing to the attainment of objectives. It builds stakeholder confidence and documents a commitment to quality, leadership practices, and the internal auditors’ mindset for professionalism.

Standard 1312 – External Assessments
External assessments must be conducted at least once every five years by a qualified, independent assessor or assessment team from outside the organization. The chief audit executive must discuss with the board:

  • The need for more frequent external assessments; and
  • The qualifications and independence of the external assessor or assessment team, including any potential conflict of interest.

Standard 1300 — Quality Assurance and Improvement Program
The chief audit executive must develop and maintain a quality assurance and improvement program that covers all aspects of the internal audit activity.

Interpretation:
A quality assurance and improvement program enables an evaluation of the internal audit activity's conformance with the Definition of Internal Auditing and the Standards and an evaluation of whether internal auditors apply the Code of Ethics. The program also assesses the efficiency and effectiveness of the internal audit activity and identifies opportunities for improvement.

 

Downloads and Links

Practice Advisory 1300-1: Quality Assurance and Improvement Program

NEW! Practice Guide: Quality Assurance and Improvement Program