{"product_id":"internal-audit-quality-isbn-9781118715512","title":"Internal Audit Quality","description":"\u003cb\u003eDeliver increased value by embedding quality into internal audit activities\u003c\/b\u003e  \u003cp\u003e\u003ci\u003eInternal Audit Quality: Developing a Quality Assurance and Improvement Program\u003c\/i\u003e is a comprehensive and authoritative guide to better practice internal auditing. Written by a global expert in audit quality, this guide is the first to provide complete coverage of the elements that comprise an effective internal audit quality assurance and improvement program. Readers will find practical solutions for monitoring and measuring internal audit performance drawn from The IIA's International Standards for the Professional Practice of Internal Auditing, and complemented by advice and case studies from leading audit practitioners from five different continents.\u003c\/p\u003e \u003cp\u003eMajor corporate and financial collapses over the past decade have challenged the value of internal audit. With an increased focus on internal audit's role in good governance, management is increasingly demanding that internal audit provides assurance of the quality of its own activities. The IIA standards provide a framework for audit quality in the form of mandatory guidance . Recent research indicates that the majority of internal audit functions do not fully comply with the standards and, as a result, are not servicing the needs of their organizations as well as they might. \u003ci\u003eInternal Audit Quality\u003c\/i\u003e offers a roadmap to internal audit quality, providing readers the guidance they need to:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eEmbed quality into all elements of internal audit from strategic and operational planning down to day-to-day tasks\u003c\/li\u003e \u003cli\u003eCreate well-defined internal audit programs and procedures\u003c\/li\u003e \u003cli\u003eIndependently self-assess internal audit quality and performance\u003c\/li\u003e \u003cli\u003eConform with the IIA standards and better practice\u003c\/li\u003e \u003cli\u003eProvide assurance over internal audit efficiency and effectiveness\u003c\/li\u003e \u003cli\u003eDeliver value by meeting stakeholder expectations\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eAs a key component of good governance, internal audit is on the rise. The days of retrospective, compliance-focused auditing is a thing of the past. Organizations expect more of internal audit, and many internal audit activities are accepting the challenge. Rather than relying on audit supervision and external assessments, modern auditors are embedding quality into audit activities to create effective programs. For the auditor looking to distinguish themselves as leading edge, \u003ci\u003eInternal Audit Quality\u003c\/i\u003e provides the guidance that enables the right work, at the right time, in the right way.\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xix\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I Internal Audit and Quality\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 The Various Faces of Internal Audit 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistory 3\u003c\/p\u003e \u003cp\u003eThe Institute of Internal Auditors 4\u003c\/p\u003e \u003cp\u003eTypes of Internal Audit Functions 5\u003c\/p\u003e \u003cp\u003eInternal Auditing in Different Sectors and Organizations 5\u003c\/p\u003e \u003cp\u003eInternal Audit Standards 8\u003c\/p\u003e \u003cp\u003eConclusion 11\u003c\/p\u003e \u003cp\u003eReferences 11\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Quality, Performance, and Value 13\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding Quality, Performance, and Value 13\u003c\/p\u003e \u003cp\u003eQuality Management Systems: Deming, Juran, and TQM 14\u003c\/p\u003e \u003cp\u003eModels for Measuring Performance 18\u003c\/p\u003e \u003cp\u003eConclusion 21\u003c\/p\u003e \u003cp\u003eReferences 21\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II Developing the Quality Assurance and Improvement Program\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Developing a Quality Framework 25\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Link between Quality, Performance, and Value 25\u003c\/p\u003e \u003cp\u003eDrivers of Quality 26\u003c\/p\u003e \u003cp\u003eA Structured Approach to Quality 30\u003c\/p\u003e \u003cp\u003eDeveloping Performance Measures for Internal Audit 32\u003c\/p\u003e \u003cp\u003eResponsibility for Internal Audit Quality 37\u003c\/p\u003e \u003cp\u003eCreating a Quality Assurance and Improvement Program 41\u003c\/p\u003e \u003cp\u003eReporting on Quality 43\u003c\/p\u003e \u003cp\u003eQuestions about the Quality Framework 44\u003c\/p\u003e \u003cp\u003eConclusion 45\u003c\/p\u003e \u003cp\u003eReferences 45\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Internally Assessing Quality 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOngoing Internal Monitoring and Maturity Models 47\u003c\/p\u003e \u003cp\u003eProcesses for Embedding Quality 51\u003c\/p\u003e \u003cp\u003ePeriodic Internal Assessments: Health Checks 53\u003c\/p\u003e \u003cp\u003eClient Satisfaction 56\u003c\/p\u003e \u003cp\u003eBenchmarking the Internal Audit Function 57\u003c\/p\u003e \u003cp\u003eQuestions about Internal Assessments 59\u003c\/p\u003e \u003cp\u003eConclusion 60\u003c\/p\u003e \u003cp\u003eReferences 60\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Externally Assessing Quality 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is an External Assessment? 61\u003c\/p\u003e \u003cp\u003eWhy Have an External Assessment? 62\u003c\/p\u003e \u003cp\u003eTypes of Assessments 64\u003c\/p\u003e \u003cp\u003eQuestions about External Assessments 70\u003c\/p\u003e \u003cp\u003eConclusion 71\u003c\/p\u003e \u003cp\u003eReferences 71\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III Internal Audit Governance Structures\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Internal Audit Strategy and Planning 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategic Planning as a Key Input of the Internal Audit Function 75\u003c\/p\u003e \u003cp\u003eVision 78\u003c\/p\u003e \u003cp\u003eInternal Audit’s Value Proposition 78\u003c\/p\u003e \u003cp\u003ePlanning to Deliver Value 85\u003c\/p\u003e \u003cp\u003eAssessing Risks Associated with the Internal Audit Function 86\u003c\/p\u003e \u003cp\u003eResource Planning 87\u003c\/p\u003e \u003cp\u003eBusiness Continuity Planning 89\u003c\/p\u003e \u003cp\u003eQuestions about the Internal Audit Function’s Strategy and Planning Processes 90\u003c\/p\u003e \u003cp\u003eConclusion 92\u003c\/p\u003e \u003cp\u003eReferences 92\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Areas of Responsibility and Nature of Work 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTypes of Engagements 95\u003c\/p\u003e \u003cp\u003eAssurance 97\u003c\/p\u003e \u003cp\u003eConsulting 103\u003c\/p\u003e \u003cp\u003eNature of Work 106\u003c\/p\u003e \u003cp\u003eAudit Support Activities 117\u003c\/p\u003e \u003cp\u003eQuestions about the Internal Audit Function’s Areas of Responsibility and Nature of Work 118\u003c\/p\u003e \u003cp\u003eConclusion 120\u003c\/p\u003e \u003cp\u003eReferences 120\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Internal Audit Charter 123\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eInternal Audit Mandate and Purpose 123\u003c\/p\u003e \u003cp\u003eStrategic Context 124\u003c\/p\u003e \u003cp\u003eStructure and Position 124\u003c\/p\u003e \u003cp\u003eIndependence 128\u003c\/p\u003e \u003cp\u003eAuthority 131\u003c\/p\u003e \u003cp\u003eInternal Audit Charter 133\u003c\/p\u003e \u003cp\u003eQuestions about the Quality of the Internal Audit Charter 135\u003c\/p\u003e \u003cp\u003eConclusion 137\u003c\/p\u003e \u003cp\u003eReferences 137\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart IV Internal Audit Staffing\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Internal Audit Staffing 141\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eOverview of the Staffing Element 142\u003c\/p\u003e \u003cp\u003eCapability Planning for the Internal Audit Workforce 142\u003c\/p\u003e \u003cp\u003eFlexible Work Practices 149\u003c\/p\u003e \u003cp\u003eRecruitment and Retention 151\u003c\/p\u003e \u003cp\u003eService Delivery Models 155\u003c\/p\u003e \u003cp\u003eRole of the Chief Audit Executive 163\u003c\/p\u003e \u003cp\u003eQuestions about the Quality of Internal Audit Staffing Practices 165\u003c\/p\u003e \u003cp\u003eConclusion 167\u003c\/p\u003e \u003cp\u003eReferences 168\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Managing and Measuring Staff Performance 169\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eProfessional Attributes 169\u003c\/p\u003e \u003cp\u003ePerformance Management Processes 172\u003c\/p\u003e \u003cp\u003eTeam Development 174\u003c\/p\u003e \u003cp\u003eIndividual Professional Development 177\u003c\/p\u003e \u003cp\u003eProfessional Membership and Involvement 180\u003c\/p\u003e \u003cp\u003eQuestions about the Quality of Internal Audit Staff Development Processes 180\u003c\/p\u003e \u003cp\u003eConclusion 183\u003c\/p\u003e \u003cp\u003eReferences 184\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart V Internal Audit Professional Practices\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Internal Audit Professional Practice 187\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eElements of Internal Audit Professional Practice 187\u003c\/p\u003e \u003cp\u003eStages in the Internal Audit Process 190\u003c\/p\u003e \u003cp\u003eInternal Audit Policies and Procedures 190\u003c\/p\u003e \u003cp\u003eQuestions about Internal Audit Policies and Procedures 199\u003c\/p\u003e \u003cp\u003eConclusion 200\u003c\/p\u003e \u003cp\u003eReferences 201\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Annual Audit Planning 203\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eValue-Added Planning 203\u003c\/p\u003e \u003cp\u003eApplying an Objectives-Based Approach to Audit Planning 204\u003c\/p\u003e \u003cp\u003eUnderstanding the Organization’s Business 204\u003c\/p\u003e \u003cp\u003eApplying a Risk-Based Approach to Audit Planning 205\u003c\/p\u003e \u003cp\u003eAuditable Areas and the Audit Universe 211\u003c\/p\u003e \u003cp\u003eAssurance Mapping 213\u003c\/p\u003e \u003cp\u003eResource Allocation 217\u003c\/p\u003e \u003cp\u003eAnnual Audit Plan Formats 219\u003c\/p\u003e \u003cp\u003eCommunication and Approval 220\u003c\/p\u003e \u003cp\u003eQuestions about Annual Audit Planning 221\u003c\/p\u003e \u003cp\u003eConclusion 223\u003c\/p\u003e \u003cp\u003eReferences 223\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 Planning the Engagement 225\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePurpose of Engagement Planning 225\u003c\/p\u003e \u003cp\u003eClient Engagement 227\u003c\/p\u003e \u003cp\u003eObjectives, Criteria, and Scope 229\u003c\/p\u003e \u003cp\u003eEnvironmental Scanning 234\u003c\/p\u003e \u003cp\u003eAligning Engagements to Key Risks 234\u003c\/p\u003e \u003cp\u003eMethodology 237\u003c\/p\u003e \u003cp\u003eResourcing and Milestones 244\u003c\/p\u003e \u003cp\u003eAssessing Risks to the Audit Engagement 245\u003c\/p\u003e \u003cp\u003eApproval of the Engagement Plan 246\u003c\/p\u003e \u003cp\u003eQuestions about Planning the Engagement 247\u003c\/p\u003e \u003cp\u003eConclusion 248\u003c\/p\u003e \u003cp\u003eReferences 248\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Performing the Engagement 249\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAudit Evidence 249\u003c\/p\u003e \u003cp\u003eInterviews 252\u003c\/p\u003e \u003cp\u003eAnalyzing Information Collected 255\u003c\/p\u003e \u003cp\u003eEngagement Findings 257\u003c\/p\u003e \u003cp\u003eEfficient Fieldwork 260\u003c\/p\u003e \u003cp\u003eManagement and Supervision 260\u003c\/p\u003e \u003cp\u003eWorking Papers 262\u003c\/p\u003e \u003cp\u003eQuestions about Performing the Engagement 264\u003c\/p\u003e \u003cp\u003eConclusion 265\u003c\/p\u003e \u003cp\u003eReferences 266\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Communication and Influence 267\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eUnderstanding Stakeholder Needs 267\u003c\/p\u003e \u003cp\u003eCommunication versus Influence 271\u003c\/p\u003e \u003cp\u003eEngagement Communications 276\u003c\/p\u003e \u003cp\u003eFollow-Up 288\u003c\/p\u003e \u003cp\u003eCommunicating the Acceptance of Risk 290\u003c\/p\u003e \u003cp\u003eQuestions about Communication and Influence 290\u003c\/p\u003e \u003cp\u003eConclusion 293\u003c\/p\u003e \u003cp\u003eReferences 293\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Knowledge Management and Marketing 295\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKnowledge Management 295\u003c\/p\u003e \u003cp\u003eMarketing 298\u003c\/p\u003e \u003cp\u003eQuestions about Knowledge Management and Marketing 303\u003c\/p\u003e \u003cp\u003eConclusion 304\u003c\/p\u003e \u003cp\u003eReferences 304\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Quality and the Small Audit Shop 305\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is a Small Audit Shop? 305\u003c\/p\u003e \u003cp\u003eDelivering Value in a Small Audit Shop 305\u003c\/p\u003e \u003cp\u003eQuality Challenges for Small Audit Shops Related to Governance Structures 307\u003c\/p\u003e \u003cp\u003eQuality Challenges for Small Audit Shops Related to Staffing 309\u003c\/p\u003e \u003cp\u003eQuality Challenges for Small Audit Shops Related to Professional Practices 311\u003c\/p\u003e \u003cp\u003eConclusion 315\u003c\/p\u003e \u003cp\u003eReferences 315\u003c\/p\u003e \u003cp\u003eAppendix A International Standards for the Professional Practice of Internal Auditing 317\u003c\/p\u003e \u003cp\u003eAppendix B List of Quality Questions 323\u003c\/p\u003e \u003cp\u003eAppendix C List of Key Performance Indicators 345\u003c\/p\u003e \u003cp\u003eGlossary 351\u003c\/p\u003e \u003cp\u003eAbout the Author 365\u003c\/p\u003e \u003cp\u003eIndex 367\u003c\/p\u003e   \u003cp\u003e\u003cb\u003eSALLY-ANNE PITT\u003c\/b\u003e is recognized as a global expert in audit quality. She is the Managing Partner of Pitt Group, a consulting firm specializing in assurance and evaluation services, where her key audit clients include major Australian government departments. Between 2008 and 2012, Sally-Anne oversaw the external quality assessment program for the Institute of Internal Auditors–Australia, and she helped author the IIA's 2012 \u003ci\u003ePractice Guide: Quality Assurance and Improvement Program\u003c\/i\u003e. Sally-Anne has under-taken in excess of 60 external quality assessments of Australian and global orga-nizations from the public, financial, mining, telecommunications, and not-for-profit sectors.    \u003c\/p\u003e\u003cp\u003e\u003cb\u003eINTERNAL AUDIT QUALITY\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eMajor corporate and financial collapses over the past decade have highlighted the value of internal audit. With an increased focus on internal audit's role in good governance, management is demanding that internal audit provides assurance of the quality of its own activities. The IIA standards provide a framework for audit quality in the form of mandatory guidance. However, recent research indicates that the majority of internal audit functions do not fully conform with the standards and, as a result, are not servicing the needs of their organizations as well as they might.  \u003c\/p\u003e\u003cp\u003eWritten by an expert in internal audit quality assurance, \u003ci\u003eInternal Audit Quality\u003c\/i\u003e provides a roadmap for delivering quality and value aligned with the latest \u003ci\u003eInternational Standards for the Professional Practice of Internal Auditing.\u003c\/i\u003e Conformance with global standards is increasingly important in orga-nizations of all sizes. \u003ci\u003eInternal Audit Quality\u003c\/i\u003e is the only guide that provides practical suggestions for achieving conformance as well as common quality traps that can lead to nonconformance.  \u003c\/p\u003e\u003cp\u003eThe resources in \u003ci\u003eInternal Audit Quality\u003c\/i\u003e make the Quality Assurance and Improvement Program (QAIP) implementation process fast and efficient. Each chapter contains a list of quality questions that can guidethe assessment process, and Sally-AnnePitt explains the basis of internal audit performance in a way that can be clearly communicated to stakeholders.  \u003c\/p\u003e\u003cp\u003eIn all, \u003ci\u003eInternal Audit Quality\u003c\/i\u003e is poised to become the authoritative guide to better practice internal auditing. Increasing the maturity of internal audit will require a thorough understanding of quality and value as well as knowledge of strategy, governance, people management, and audit processes. More than that, it will require an ability to communicate effectively with senior management and the board, ensuring that stakeholder expectations are understood and met. This is the primary goal of the QAIP, and reading this book is a major step toward achieving this goal.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989445066981,"sku":"NP9781118715512","price":100.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118715512.jpg?v=1761784126","url":"https:\/\/k12savings.com\/products\/internal-audit-quality-isbn-9781118715512","provider":"K12savings","version":"1.0","type":"link"}