In accordance with Standard 1312 of the IIA standards, all organizations, no matter size or industry, are required to complete an assessment of the performance of their internal audit activities (IAA), at least every five years. MorganFranklin Consulting’s Quality Assessment Review (QAR) is an independent and objective assessment of compliance with the IIA standards. We help organizations of all sizes assess the effectiveness of their internal audit function, supplying a detailed action plan that validates their conformance and successful practices and identifies opportunities for improvement between the current and desired states.
Our 360-degree evaluation will assess how well the Internal Audit is functioning within your company based on staff, management, and Board interviews and/or surveys and our robust documentation review.
- Helps align key stakeholder expectations and assists in assessing whether the IAA is meeting or exceeding these expectations
- Identifies process improvements and enables best practice sharing for the IAA to improve image, credibility, effectiveness, and value to the business
- Helps establish a roadmap to meet future state requirements (people, rules, tools, and technology) and uses the QAR as a benchmark assessment for future improvement
The MorganFranklin Way™
As a trusted partner, MorganFranklin provides an insightful, flexible, and client-focused approach to help companies address their unique business challenges, including the efficiency and effectiveness of the Internal Audit function. Our methodology is built around complete support and encompasses benchmarking, best practices, templates, and tools to support business goals. Our team utilizes their deep industry knowledge to strategically guide clients towards building high-performing organizations that are capable of executing a strategic vision and achieving measurable improvements.
- Possess significant expertise in performing these reviews – over 110 in last 5 years
- Go beyond mere compliance to ensure value for our clients
- Incorporate common, better practices and benchmarking
- Our teams have decades of internal audit experience and are former Chief Audit Executives and are uniquely positioned to support your IAA .
- Offer advice that is current, relevant, pragmatic, and practical
- Provide an efficient approach that meets the requirements of the Standards
- Recognize that every project is distinct and unique and tailor our objectives to meet your needs.