Internal Audit Quality Assurance and Improvement Program


Internal Audit's Quality Assurance and Improvement Program (QAIP) is designed to provide reasonable assurance to the various stakeholders of the Internal Audit activity that Internal Audit:

  1. Performs its work in accordance with its Charter, which is consistent with The Institute of Internal Auditors International Standards for the Professional Practice of lnternal Auditing (Standards), Definition of lnternal Auditing and Code of Ethics;
  2. Operates in an effective and efficient manner; and
  3. Is perceived by stakeholders as adding value and improving Internal Audit's To that end, Internal Audit's QAIP will cover all aspects of the Internal Audit activity. In this regard, a list of the features to be considered for the QAIP:
  • Monitors the Internal Audit activity to ensure it operates in an effective and efficient
  • Assures compliance with the Standards, Definition of lnternal Auditing and Code of
  • Helps the Internal Audit activity add value and improve organizational
  • Includes both periodic and ongoing internal

The Chief Audit Executive (CAE), as the CAE position is defined by the Stockton University Internal Audit Activity Charter, is ultimately responsible for the QAIP, which covers all types of Internal Audit activities, including consulting.

A.  Ongoing Reviews - Ongoing assessments are conducted through:

    • Supervision of engagements
    • Regular, documented review of work papers during engagements by appropriate Internal Audit staff
    • Audit Policies and Procedures used for each engagement to ensure compliance with applicable planning, fieldwork and reporting standards
    • Feedback from customer survey on individual engagements
    • Analyses of performance metrics established to improve the IA effectiveness and efficiency
    • All final reports and recommendations are reviewed and approved by a CAE

B.  Periodic Reviews - Periodic assessments are designed to assess conformance with Internal Audit's Charter, the Standards, Definition of Internal Auditing, the Code of Ethics, and the efficiency and effectiveness of internal audit in meeting the needs of its various stakeholders. Periodic assessments will be conducted through:

    • Bi-annual customer surveys
    • Annual risk assessments for purposes of annual audit planning
    • Semi-annual work paper reviews for performance in accordance with internal audit policies and with the Standards (using Tool 17 of The IIA Quality Assessment Manual)
    • Review of internal audit performance metrics and benchmarking of best practices, prepared and analyzed in accordance with Audit Policies and Procedures
    • Periodic activity and performance reporting to the Audit Committee
This policy will be appropriately updated for changes in the standards or internal audit's operating environment.