Internal Audit Assessment

Charles Financial Strategies LLC enables an evaluation of the internal audit activity's conformance with the Definition of Internal Auditing and the International Standards for the Professional Practice of Internal Auditing (Standards) and an evaluation of whether internal auditors apply the Code of Ethics. The program also assesses the efficiency and effectiveness of the internal audit activity and identifies opportunities for improvement.

Charles Financial Strategies has improved internal audit activities by offering external quality assurance for the last 10 years. Scoping with our external quality assessment (EQAs) takes into consideration the culture and complexity of our clients as we evaluate the entity’s conformance to the International Standards for the Professional Practice of Internal Auditing. In addition, internal audit innovation is the key to promoting the relevance and viability of the internal audit department to its organization.

Our internal assessment solutions help organizations transform our customer’s internal departments by bringing a customized approach that improves the overall efficiency of their controls.  We align a firm's control with leading best practices and ensure the business activities are operating at an appropriate level of performance that delivers the highest value to your organization.

Our understanding of your needs guides us to help you meet governance obligations and provide assurance for your stakeholders.  Charles Financial Strategies LLC is that qualified and experienced assessor to execute a validation of the IA activities.  Our validators use a consultative approach which is based on The IIA’s Quality Assessment Manual for Internal Audit Activities (QA Manual).  Below is an illustration of the approach of the full external assessment process and referenced from the QA Manual: