Domain I: Purpose of Internal Auditing
The internal audit function is perceived as adding value and helping our bank accomplish its objectives.
Domain II: Ethics and Professionalism
2. Internal audit personnel respect the value and ownership of information they receive and do not disclose information without appropriate authority, unless there is a legal or professional obligation to do so.
3. The integrity of the internal audit function establishes confidence, providing the basis for its role as a trusted advisor within our bank.
4. The internal audit function effectively promotes appropriate ethics and values within our bank based on its actions and communications.
5. Internal audit personnel exhibit the highest level of professional objectivity in performing their work, making a balanced assessment of all relevant circumstances, and are not unduly influenced by their own interests or by others in forming judgments.
6. Internal audit personnel display adequate knowledge of our business processes, including critical success factors.
7. Internal audit personnel exhibit effective problem identification and solution skills.
8. The internal audit function is viewed as a viable source of talented individuals who could successfully transfer to other parts of our bank.
9. Internal auditors stay current on new technologies and the associated risks.
10. Internal auditors stay current on emerging risks that relate to the bank.
Domain III: Governing the Internal Audit Function
11. The roles and responsibilities of the board, senior management, and Chief Internal Auditor in establishing and supporting the internal audit function are clearly documented and understood.
12. The internal audit function is not involved in management decisions or roles outside of internal auditing that would impact its independence.
13. The role, responsibilities, and reporting relationships of the internal audit function are clearly understood within the bank.
14. Internal audit personnel have unrestricted access to records, information, locations, and employees during the performance of their engagements.
Domain IV: Managing the Internal Audit Function
15. Internal audit management and staff keep up to date with changes in our business, our industry, and relevant regulatory issues.
16. The internal audit function assesses areas or topics that are significant to the bank and its goals.
17. The Chief Internal Auditor seeks input from the board and management on the internal audit plan. Requests for assurance or advisory projects are considered.
18. The internal audit function sufficiently communicates its audit plans to management, including engagement objectives and scope.
19. Internal audit management and staff communicate effectively (oral, written, and presentation).
20. The internal audit function utilizes technology to make its processes effective and efficient.
21. The internal audit function has a defined, effective process for communicating management's acceptance of an unacceptable risk.
22. The internal audit function effectively coordinates with internal and external assurance providers to maximize coverage and avoid duplication of efforts.
23. The internal audit function collaborates with the board and senior management in identifying meaningful performance objectives and metrics.
Domain V: Performing Internal Audit Services
24. The internal audit function adequately assesses the effectiveness of risk management processes.
25. The internal audit function competently assesses the design and implementation of our bank's internal controls.
26. The internal audit function exhibits sufficient project management skills in its assurance and advisory engagements.
27. The internal audit function demonstrates sufficient knowledge of fraud to identify "red flags" indicating possible fraud when planning and performing its audit engagements.
28. The internal audit function demonstrates sufficient knowledge of key information technology risks and controls in performing its audit and advisory engagements.
29. Internal audit communications are accurate, objective, clear, concise, constructive, complete, and timely.
30. Internal auditors demonstrate effective conflict resolution and negotiating skills.
31. The internal audit function effectively communicates the status of action plans and engages with management to achieve timely resolutions.
Open-ended
32. What are the strengths of the internal audit function? What would you like them to continue doing or expand upon? What new areas or services would be helpful?
33. What are enhancement opportunities for the internal audit function? What things would you like to see the function stop doing?
34. Please provide any additional comments on the quality of the internal audit function, the Chief Internal Auditor, or the internal auditors.
Survey complete! Thank you for you time.