QAIP and charter conformance

  • This topic has 2 replies, 2 voices, and was last updated 1 year ago by Vasily Muravyev.
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  • #219930

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    This forum is restricted to members of the associated course(s).

    Vasily Muravyev
    Participant

    Hello. So my question is…

    QAIP video 05:41 says that periodic reviews should be designed to assess compliance with the charter (as well as standards and ethics). At the same time Question ID: CIA1 M2 Q053 (Topic: A. Required Elements of QAIP) say that “Reviewing whether the IAA is in compliance with the internal audit charter” is NOT a part of internal assessment.

    At the same time explanation for the question Question ID: CIA1 M1 Q062 states: The external assessment should consist of a broad scope of coverage that includes: (1) Conformance with the Definition of Internal Auditing, Standards, The Code of Ethics and the internal audit activity’s CHARTER…
    But in the standards I did not manage to find any statement of assessment of compliance with the Charter. It looks like Charter is used to assess conformance with the standards.

    So my question is.
    1) Is information in video wrong and internal assessment does not assess conformance with Charter?
    2) Does external assessment assess conformance with the charter?
    3) Which standard identifies requirement for the assessment of conformance with the charter?

    Please advide because I am comfused.
    Thanks.

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  • #219947

    This forum is restricted to members of the associated course(s).

    Brian Hock
    HOCK international

    Hello, Vasily,

    This actually turned out to be a more complicated answer than I thought it was. My original response was that question CIA1 M2 Q053 in the Mock Exam is incorrect. (And it is and will be fixed.) However, in looking into the Standards and Guidance, this is what I found in reference to the Charter and testing conformance to the Charter:

    In Standards 1300, 1310, 1311, 1312, 1320, 1321 and 1322 it does not mention testing against the Charter or Conformity to the Charter. In the Implementation Guides for these standards there are references to the Charter, but not so much in this way. However, in the Practice Guide about the QAIP, it mentions Compliance with the Charter or measuring the effectiveness of carrying out the Charter as part of the internal and external assessments.

    So, while it is not specifically stated in the Standards or Implementation Guides, t is mentioned as part of both the internal and external assessment process.

    So, in response to the three questions:

    1) The Video is correct
    2) Yes, external assessment will also assess conformity with the Charter
    3) The Standards related to the QAIP are 1300, 1310, 1311, 1312, 1320, 1321 and 1322

    I hope that this helps clear your confusion and we will get the question in the Mock Exam corrected.

    Brian

    #219951

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    Vasily Muravyev
    Participant

    Brian,
    Thanks for a prompt reply. It is now much more clear. Qaip appeared to be a difficult subject for me for some reason and I try to clarify as much as I can before an exam.

    Vasily

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