QAIP stands for Quality Assurance and Improvement Program, which is required by the IIA Standards to evaluate and improve the internal audit activity’s effectiveness and adherence to the IIA Standards and Code of Ethics.
A proper QAIP includes:
Ongoing internal assessments (e.g., continuous supervision, self-assessments, periodic internal reviews).
External assessments conducted at least once every five years by independent and objective assessors, typically outside the organization.
This dual approach ensures continuous quality monitoring and external validation of the internal audit function’s performance and conformance.
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Elvoo
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