Sponsored by International Quality and Productivity Center Conference on THE CHANGING ROLE OF THE INTERNAL AUDITOR March 31-April 2, 2003 * Georgian Terrace Hotel * Atlanta, GA
<See Details at the end of this email> Seats are limited so sign up now at www.iqpc.com! *************************************** Hilda, You may find the link below useful. It has the criteria used for rating financial institutions and service providers and has some specific criteria for the audit function. While most of the document has an IT focus, the management and audit criteria would be applicable to any institution. www.ffiec.gov/ffiecinfobase/resources/info_sec/frb-sr-99-8-uniform_rating_sy s_info_tech.pdf If you use an external consulting firm make sure they have done this before. Get specific references that you can contact. Many consulting firms will simply grab some sort of guideline (like the one above) and then simply put some fancy graphics around it and not really add a lot of insight or perspective. Peer review isn't bad either, but you need to ensure that you and your peers are all working from the same baseline and similar industry. Ideally, you would have a measurable criteria established and even an 'audit program' for the peer to use before starting--although if you had those items you probably wouldn't need the peer review. Hopefully this is helpful. Robert Mullan Internal Audit COCC 860-676-8033 X684 -----Original Message----- From: [EMAIL PROTECTED] [mailto:[EMAIL PROTECTED] Sent: Wednesday, March 26, 2003 11:10 PM To: [EMAIL PROTECTED] Subject: Independent assessment of internal audit function Sponsored by International Quality and Productivity Center Conference on THE CHANGING ROLE OF THE INTERNAL AUDITOR March 31-April 2, 2003 * Georgian Terrace Hotel * Atlanta, GA <See Details at the end of this email> Seats are limited so sign up now at www.iqpc.com! *************************************** Hi all, We recently decided to engage an external consulting firm (have not yet picked one) to perform an independent assessment of our internal audit function, and I've been charged with the task of preparing a plan to make this happen. I have had a brief look/search on the internet but the information available on the Net is limited. <I've checked the IIA website and have obtained the relevant practice advisory note>. Can anyone share his/her experience of having been the 'reviewer' or 'reviewee' of such an independent assessment? Can anyone also give me some help with regards the following: 1. what are some of the measurable criteria you will use to select a consulting firm to do the job (reputation, experience, etc)? 2. what is your opinion on 'peer review' - getting the internal auditors of another company (in the same industry, similar size, etc) to perform this independent assessment (and you return the favour by looking at their internal audit function)? Any help is appreciated. Regards, Hilda McBrien Senior Audit and Control Analyst SFE Corporation Ltd ph: (02) 9256 0552 email: [EMAIL PROTECTED] __________________________________________________________________________ This e-mail is confidential and is intended for the addressee only. If you are not the intended recipient any use, disclosure or copying of this e-mail is prohibited. If you have received this e-mail in error, please notify the sender immediately by reply e-mail and delete this e-mail from your system. This conference provides expert speakers addressing the latest and most topical issues regarding new processes & practices helping internal auditors successfully meet the expectations of BODs & auditing committees, senior executives, clients and external consultants. Includes case studies from Fidelity Investments, Bon Secours Health Systems, Staples, Schwan Food Company, FedEx, Anchor Bancorp, and others. AUDIT-L SUBSCRIBERS WILL SAVE $200 using discount code: A434E. Register by calling 1-800-882-8684, email to: [EMAIL PROTECTED] or online at www.iqpc.com! Note: This discount cannot be combined with any other offer. Payment in full upon registration. For cancellation and conference policies, please visit www.iqpc.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 This conference provides expert speakers addressing the latest and most topical issues regarding new processes & practices helping internal auditors successfully meet the expectations of BODs & auditing committees, senior executives, clients and external consultants. Includes case studies from Fidelity Investments, Bon Secours Health Systems, Staples, Schwan Food Company, FedEx, Anchor Bancorp, and others. AUDIT-L SUBSCRIBERS WILL SAVE $200 using discount code: A434E. Register by calling 1-800-882-8684, email to: [EMAIL PROTECTED] or online at www.iqpc.com! Note: This discount cannot be combined with any other offer. Payment in full upon registration. For cancellation and conference policies, please visit www.iqpc.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
