QUALITY ASSESSMENT AND PROFESSIONAL CONSULTING SERVICES

The Institute of Internal Auditors–UAE is pleased to offer its professional consulting services in internal auditing to Chief Audit Executives, Audit Committees and Chief Executive Officers. The IAA is well placed to assist clients requiring a review of their Internal Audit Department. It is independent, has an international standing and profile, has proven methodologies specific to internal auditing, and access to benchmarks and best practice guides.

The services offered by the IAA are:

Independent Quality Assessments of Internal Audit Departments and other Consulting Services related to the management of Internal Audit Departments. However, the IAA does not provide services to conduct Internal Audit engagements as this is the province of our members. One point which distinguishes the IAA from other providers of consulting services in internal auditing is the clear independence we are able to provide. The IAA does not provide other types of Internal Audit service and thus can be seen to have no conflicts of interest in terms of a review of your Internal Audit Department. If desired, the IAA would be happy to provide references regarding the value of its consulting services.

Independent Quality Assessments

As the IAA internationally receives requests to provide Independent Quality Assessments of Internal Audit Departments, it has developed a methodology to ensure consistency in the reviews. The methodology has been refined over a number of years, with the phased approach allowing:

Assessment of the efficiency and effectiveness of an Internal Audit Department.
Identification of opportunities for improvement.
Review of audit planning and risk assessment leading to the internal audit work plan.
Evaluation of the Internal Audit Department structure and resources.
Determination of perceptions of Internal Audit in the organisation.
Examination of internal auditing techniques and methodology.
Identification of ways to enhance internal audit policies and practices.
Provision of an opinion as to whether the Internal Audit Department conforms to “The International Standards for the Professional Practice of Internal Auditing” issued by The Institute of Internal Auditors.

The approach usually involves a number of interviews (for example, interviews with the Chief Executive Officer, members of the Audit Committee, Executive Management in major areas audited, Internal Audit management and employees), surveys of Internal Audit customers and employees, review of policies, manuals and working papers and observation of the organisation of the Internal Audit Department. If requested, benchmarking and comparisons against other similar groups can also be made formally and informally.

The focus of the methodology is to gauge the organisation and operations of an Internal Audit Department against the Standards developed by the IAA. However, the methodology can be customised to give added emphasis (or to de-emphasise) aspects of the review to suit client requirements. In addition, clients may find there is benefit in having the review address specific issues relating to Internal Audit in their organisation. You may like to consider any aspects of Internal Audit operations where you may derive such benefit.

Other Consulting Services

Apart from Independent Quality Assessments, the IAA may be requested to review and provide advice on such things as:

Setting-up a new Internal Audit Department.
Informing an organisation on its upcoming tender process for Internal Audit services.
Audit Committee structures and roles.
Options for Internal Audit to better engage and partner with management.
Approaches to Internal Audit planning.
Approaches to Internal Audit reporting and follow-up.
Development of key performance indicators for an Internal Audit Department.
Advice on recruitment of Chief Audit Executives and Internal Auditors.

Our Consultants

The IAA has a number of consultants it can draw on for reviews of this nature. All are experienced senior internal auditors with years of management experience in a range of organisations and industries. All are experienced consultants, able to interact confidently with senior management and internal audit staff.

In selecting a suitable consultant, we can match skills and experience with your particular organisation or industry. For example, we can provide specialists with significant experience in:

Private sector – banking, distribution, energy and utilities, manufacturing, oil and gas, mining, retail.
Public sector – Government at all levels (federal, local), education, health, universities.

Professional Fees

We offer these services as a fixed price arrangement and have complete reviews within the prescribed timeframe and cost. You will find our fees competitive.

Contact

If you are interested in the IAA providing a proposal for an independent Quality Assessment of your Internal Audit Department or other consulting service, please contact:

Lorna Mungkal
Administration
UAE Internal Audit Association (UAE IAA)
IIA UAE Chapter
7th Floor, Building 4
The Galleries, Downtown Jebel Ali
(Next to JAFZA 18 & 19, Exit 20)
Dubai, UAE
lorna@iiauae.org
PO Box 17000 Dubai
Tel. 0 971 4 433 9180
Fax 0 971 4 433 9190