Are you ready for conformance with the Global Internal Audit Standards?
The new Standards were published in January 2024 and become effective in January 2025.
Our gap analysis service works with your internal audit team, drawing on your existing quality assurance and improvement programme to help you understand where you may need to make changes.
Outcomes from the gap analysis include:
As part of agreeing the scope of work, we will also agree the timescales for each stage of the review activity.
Rather than starting from scratch, we will use existing information available through your recent assessments against internal auditing standards, reports to audit committees and quality and improvement plans. Through a desktop review we will collate information and start mapping this against the Global Internal Audit Standards.
Within the project plan we will build in time to check in with the internal audit team, ask you questions, and flag potential gaps and queries. This will allow us to start identifying any potential gaps and resulting actions.
We will draft an assessment against the Standards, and a prioritised action plan. This will include ideas for enhancements and recommendations for conformance with the Standards. We will ask your team to sense check the assessment and action plan before we put it in a form that can be shared with the wider internal audit team and incorporated into your quality reporting to the audit committee.
The list below is an indicative list of documents for the desktop review. It is likely you will have other documents that you know will also be useful for this review.
The timing of the work can be planned to meet your timescales, but typically includes the following milestones:
This page last updated April 2024
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