Importance of quality assessment

 The International Standards for the Professional Practice of Internal Auditing (The Standards) are promulgated by The Institute of Internal Auditors. 

As noted in Standard 1312 – External Assessments, “External assessments may be accomplished through a full external assessment, or a self-assessment with independent external validation.” 

The full external assessment is conducted by a qualified, independent assessor or assessment team from outside the organization. The team approach involves an outside team of competent professionals under the leadership of an experienced, professional project manager or team leader. The team, on a collective basis, must demonstrate competence in the professional practice of internal auditing and the external assessment process.

A self-assessment with independent validation includes a comprehensive and fully documented self-assessment process that requires the CAE to complete the self-assessment work, and normally provides limited attention to benchmarking, review, and consultation related to successful internal audit practice. Essentially, the CAE oversees the efforts of an internal assessment team that completes planning documentation, performs assessment work programs, evaluates conformance with the Standards and Code of Ethics, and produces a report summarizing assessment results.

The independent external assessor or assessment team validates the work of the internal assessment team through a review of assessment planning documentation, re-performing a sample of assessment work program steps, conducting interviews with key stakeholders (board members, executive leadership, operating management, and internal audit management and staff), and assessing the conformance conclusions reported by the internal assessment team.

Higher Education:

Angelo State University 

College of William & Mary 

George Mason University 

James Madison University

Lamar University

Maricopa Community College District

Oklahoma State University 

Radford University

Rice University

Sam Houston State University

Sul Ross State University

Texas Southern University

Texas State University San Marcos 

Texas State University System 

University of Mary Washington

University of North Texas System 

University of Oklahoma

University of Virginia

Virginia Community College System 

Virginia Commonwealth University 

Virginia State University

Virginia Tech

Health and Human Resources:

Acelity/KCI USA, Inc. 

Carillion Health System 

Santa Fe Healthcare 

Texas Children’s Hospital 

Texas Depart. of Aging and Disability Svcs.

Texas Depart. of Assist and Rehab Svcs. 

University of Virginia Health Svcs Fdn 

Virginia Depart. of Medical Assist. Svcs.

Virginia Department of Health 

Natural Resources:

Austin Water Utility 

TECO Energy Inc.

Tesoro Corporation 

Texas Water Devel. Board

Valero Energy 

Virginia Dept. of Agriculture and Consumer Svs

Public Safety and Transportation:

Capital Metro 

Maryland Depart. of Public Safety and Corrections 

NJ Transit

Insurance, Finance and Private Industry:

Argonaut Group

Atlantic Mutual Insurance Companies

Church Pension Group

Clayton Homes

IBC Bank 

IBB Bank 

Independent Banker’s Bank of Florida

Kforce Inc. 

Lennar Corporation

New Mexico Educational Retirement Board 

Related Corporations of Virginia Tech 

Shenandoah Life Insurance Company

Timberland

West Virginia Investment Mgmt Board 

Virginia Department of Taxation 

Virginia Housing Dev. Authority 

Virginia Treasury Department 

Other state and local government agencies:

Hillsborough County Clerk of Courts, FL 

Hillsborough County Board of County Commissioners 

Richmond Public Schools 

Texas Education Agency 

Texas Facilities Commission 

Texas Lottery Commission