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The following question was recently submitted to Ask the Auditor. Any ideas/feedback? IIA Standards require us to evaluate risk management, control and governance systems. According to the IIA's Quality Assessment Manual: The nature of IA activity or scope of work is discussed in Standard 2100 and represents a significant departure from Standard 300 in the prior Standards. Standard 2100 reflects the new definition of internal auditing, stating the IA activity should add value and evaluate and improve the organization's risk management, control, and governance processes. Standard 2110 states that the IA activity should assist the organization in managing risk by (1) identifying and evaluating significant exposures to risk and (2) contributing to the improvement of risk management and control systems. Standard 2120 states that the IA activity should evaluate the effectiveness and efficiency of the organization's control processes. Standard 2130 describes the role of the IA activity in the governance process. Internal auditors should assist the organization by evaluating and improving the process through which (1) values and goals are established and communicated, (2) the accomplishment of goals is monitored, (3) accountability is ensured, and (4) values are preserved. Standard 2110.A1 - The internal audit activity should monitor and evaluate the effectiveness of the organization's risk management system. Additionally, the IIA Handbook, Implementing the Professional Practices Framework, states that "Identifying and evaluating risk exposures and using risk analysis to plan audits, two other risk activities required by the standards, are not enough to satisfy the mandate for evaluations of risk management processes. I'm curious how folks are planning on complying with IIA Standard 2110.A1? Audit Leverage is a department management software package that integrates and automates the entire audit process. This comprehensive package includes risk assessment, audit planning, budgeting, staffing, scheduling, timekeeping, automated work papers, audit findings & recommendations, reporting and audit follow-up. Audit Leverage allows auditors in the field to work off-line and dial in to synchronize their work with the Audit Leverage database on the network, enabling managers to review the work papers instantly without being at the job site. Demo available at www.auditleverage.com If your organization would like to sponsor this discussion list send an e-mail to [EMAIL PROTECTED] for information. To unsubscribe to the Audit-l list send an e-mail to [EMAIL PROTECTED] Leave the subject line blank and include the following message in the body: Unsubscribe audit-l (yourname) Thanks, Jim Kaplan List Manager
