External Assessment is a comprehensive review that examines Internal Audit for such things as:

  • Conformance of Internal Audit services to mandatory guidance
  • Expectations of Internal Audit services expressed by the Audit Committee, the Chief Executive Officer and Executive Management, and whether these are being met
  • Effectiveness of Internal Audit as a 3rd Line of Defence assurance function integrated into the strategic management and governance framework
  • Whether Internal Audit operations represent modern good practice and adds value to improving business operations
  • Skills, knowledge and experience capability within Internal Audit
  • Opportunities for improvement 
Assessing the internal audit function is a way to share and gain insights provided by independent assessors.

Assessing the internal audit function of the organisation is a way of proving to the Audit Committee and Executive Management the value that Internal Audit is adding to the organisation. It is also a way to share and gain insights provided by independent assessors from their work with other internal audit functions in similar organisations and sectors.

External Assessment of Internal Audit Specialist

Nestor Tindugan
Nestor Tindugan
Senior Manager of Corporate Assurance