(Source: Internal Auditing Professional Standards)

• ongoing reviews of performance

• periodic reviews by persons in organization knowledgeable of internal auditing practices and Standards

• ongoing via supervision, checklists, etc.
• assurance policies, practices, etc. being followed.
• feedback from audit customers and other stakeholders
• analyses of performance metrics
• project budgets, timekeeping systems, audit plan completion, cost recoveries, etc.
• compliance with charter, Standards, the Code
• efficiency and effectiveness of meeting needs of stakeholders

• Periodic assessments may include:

• interviews and surveys
• self-assessment by audit
• performed by CIA's, or other audit professionals in organization.
• combination of self-assessment subsequently reviewed by CIA's or others in the organization.
• benchmarking against relevant best practices of profession.

• Conclusions developed:

• quality of performance
• action needed

• Results reported:

• generally to CAE
• results and action plans to senior management, board, external auditors, etc.

• Follow-up to assure improvements implemented