As part of the external assessment of the IA function, a focus benchmarking may also be performed at the client’s request on certain IA issues in relation to comparable functions of leading Russian companies, as well as on examples of best IA practices.
Background
- The need for further development of the IA function maturity and efficiency and the formation of its development strategy
- Compliance with the requirements of international IA standards, implementation of the Bank of Russia’s recommendations on public companies, and the recommendations of the Federal Agency for State Property Management (Rosimushchestvo) (for companies with state participation).
A comprehensive approach is used to assess the IA function:
- analysis of existing IA policies and procedures;
- collection of feedback from IA clients, company management, representatives of audit targets and IA employees;
- analysis of risk assessment documentation on planning and performance of audits, as well as sample reports and monitoring documentation.
Kept methodology
When performing projects on the external assessment of IA, we use our own methodology based on the International Professional Practices Framework (IPPF), the applicable Russian requirements and recommendations, the experience of mature IA functions of international and Russian companies, and our own experience in performing internal audit projects.
Value to the business
- Independent view of the current organization of the IA function and processes related to its level of development.
- Clear development plan and practical recommendations on improving IA activities.