In response to an increased focus on effective governance, the Institute of Internal Auditors (IIA) issued a provision requiring an external Quality Assurance Review (QAR) of audit departments. Sirius Solutions’ QAR Service is a strategic assessment of an internal controls function, including its infrastructure, staff experience and performance relative to business goals, best practices, and applicable standards. QAR includes:

• Assessing the efficiency and effectiveness of the department based on established standards
• Reviewing the internal controls universe methodology followed in the annual risk assessment
• Evaluating the organizational structure, staffing, and internal controls approach of the department
• Determining how internal auditing is perceived through interviews and surveys with customers, including governance personnel
• Examining techniques and methodology for testing of controls
• Identifying ways to enhance the department's policies and practices

By completing a QAR, Sirius Solutions can help Audit management:

• Clarify and validate management and stockholder expectations of the department
• Assess the department structure, methodologies, resources, and capabilities
• Assess compliance with the ISPPIA
• Identify improvement opportunities