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#1371574 - 04/08/10 09:02 PM Self-Assessment
auditangel Offline
Member
Joined: Dec 2009
Posts: 63
I am reading a sample/rough draft copy of our new audit policy. It states that the bank will complete a self-assessment every two years, wherein the audit committee will assess the internal audit (and external audit) function using regulatory examination procedures.

Sorry if this is a dumb question, but what exactly does this mean? Wouldn't the effectivness of the internal and external audit funtions be shown the regulatory exam results?
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My questions and opinoins are my own and not my employer's.

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Audit
#1371736 - 04/09/10 01:59 PM Re: Self-Assessment auditangel
GoneToTexas Offline
100 Club
Joined: Jul 2007
Posts: 135
Texas
I'm not sure, but they may be trying to comply with the International Standards for the Professional Practice of Internal Auditing. Look at attribute standards 1300, 1310, 1311 and 1312 (link below) to see the quality assurance and assessment standards.

http://www.theiia.org/guidance/standards-and-guidance/ippf/standards/

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#1373489 - 04/13/10 06:54 PM Re: Self-Assessment GoneToTexas
auditangel Offline
Member
Joined: Dec 2009
Posts: 63
Thanks!
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My questions and opinoins are my own and not my employer's.

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