Under the International Standards for the Professional Practice of Internal Auditing (Standards), internal audit departments must develop and maintain a quality assurance and improvement program (QA&IP). As part of the QA&IP, an external assessment must be performed at least once every five years by a qualified, independent reviewer or review team from outside the organization. For organizations adhering to Generally Accepted Government Auditing Standards (GAGAS), each organization performing audits or attestation engagements in accordance with GAGAS must have an external peer review at least once every three years.
About our Quality Assessment Services
Honkamp Krueger & Co., P.C. (HK) has assembled a knowledgeable and forward-thinking team of subject matter experts who have been recognized for providing quality assessment services around the U.S. When you choose HK to be your quality assessment partner, your external assessment experience will include an organized, efficient and thoughtful process. Our team goes above and beyond just the technical requirements, providing educational feedback and suggestions for improvements that are right-sized to your organization. Clients of HK will have a team that is personable, knowledgeable and dedicated to ensuring your quality assessment goes as smoothly as possible. Our team has:
- Over 100 years of combined experience in the internal auditing profession and lead internal audit departments for a number of organizations throughout their careers
- Experience in a variety of industries including: financial institutions, gaming, utilities/energy, government, insurance, education, retail and manufacturing
- Professional certifications including: Certified Internal Auditor, Certified Public Accountant, Certified Fraud Examiner, Certified Internal Controls Auditor, Certified Fiduciary and Investment Risk Specialist, Certified Global Management Accountant
- Presented on internal audit quality related topics at Institute of Internal Auditors (IIA) chapters from cost-to-coast
- Facilitated training courses such as “Implementing a Quality Assessment Program in Your Internal Audit Activity” and “Performing a Quality Assessment of an Internal Audit Activity – Internal or External”
- Completed over 350 full quality assessments, self-assessment validations, readiness assessments and internal audit department consulting engagements
Our team’s substantial knowledge of the internal auditing profession and exposure to leading-edge internal audit organizations allows HK to conduct these reviews efficiently and, most importantly, gives them the perspective to provide value-added feedback to your internal audit activity. We have developed an uncomplicated approach to performing quality assessments which leverages the tools and methodology supported by IIA and incorporates the insights and experience of our team members. This knowledge and approach paired with HK’s reputation for a unique and valuable client experience is what sets us apart.
If you are interested in receiving an external quality assessment or self-assessment with independent validation proposal from HK’s quality assessment team leaders, please complete an inquiry form so we may develop a no-obligation proposal for you. Our proposal turnaround time is approximately 14 business days after receipt of all necessary information.
Should you have any questions about IIA’s quality Standards or our external QA process, please feel free to email us at email@example.com.