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Quality certification
The IFACI Certification issues a seal of approval attesting to quality and performance to Chief Audit Executives, in application of the twenty-five tried and tested requirements of the Standards for the Professional Practice Framework of Internal Auditing
Maturity assessment
Maturity Assessment turns the Internal Audit Activity into a driver of accelerated innovation, advocating pioneering concepts and forward-looking practices, whilst heeding expectations for organizational, technological and methodological breakthroughs
Performance assessment
Performance Assessment allows the Internal Audit activity to conduct a research process, to benchmark, adapt and implement fluid and effective practises
Official Awarding of Quality Certification 2015 to sixteen Internal Audit departments on 15 January 2016:
Agence de Services et de Paiement, AMUNDI, Autorité des Marchés Financiers(AMF), CACEIS, CACIB, Caisse de Dépôt et de Gestion du Maroc – Etablissement Public, Caisse Nationale de Retraites et d’Assurances (CNRA) & Régime Collectif d’Allocation de retraite (RCAR) du Maroc, Conseil Départemental de Seine Saint Denis (CG 93), Crédit Agricole Assurances, Crédit Agricole Consumer Finance, Crédit Agricole SA, Generali France, Groupe Lucien Barrière, LCL, Sodexo, Voies Navigables de France.
Launched on 15 January 2016, the Maturity Assessment and the Performance Assessment complete the already enshrined Quality Certification offer.
Three major organizations, Groupe Caisse des Dépôts, Zodiac Aerospace and Poste Immo are testimony to this approach:
Given the highly diversified and dynamic scope of the activities of the Groupe Caisse des Dépôts, its Internal Audit activity has to be extremely adept in adjusting its systems to the level of risks to be covered. The Internal Audit Activity of the Caisse des Dépôts has clearly established itself as expert to the Executive Management and Supervisory Board. The Maturity and Performance Assessments have enabled the Caisse des Dépôts to obtain a rigorous assessment and contextualization of its internal audit function, as well as relevant benchmark input
One of the world’s top ten leaders in aerospace equipment and systems, Zodiac Aerospace, was confronted in 2015 with a significant drop in its operating profits, after revision of its internal control framework. The Maturity Assessment model notably allowed for a greater understanding of the expectations of the stakeholders and facilitated interaction with the latter.
Poste Immo manages the entirety of the real estate assets of La Poste group. Implementation of the Maturity and Performance Assessments has enabled it to go above and beyond what is mandatory, bolstering the internal Audit Activity and improving current practices.
Press coverage:
IFACI 50th Certification Award Ceremony:
IFACI Certification had the pleasure of awarding its 50th Certification to the Chief Audit Executive of Groupe Eurotunnel on Thursday, 22 November 2012, ceremony which took place at Palais Brongniart.
Extract from the speech made by Mr Benoît de JUVIGNY, General Secretary of the Autorité des Marchés Financiers, French stock market regulator:
“I would like to commend the IFACI certification, which is proving to be highly useful. It demonstrates the importance for companies of third party assessment. It provides reasonable assurance that the Internal Audit Activity is indeed focused on the areas of strategic importance to the Organization.
Anything that helps successfully complete and improve the performance of the Internal Audit Activity can only be welcomed from a regulatory and control perspective”.
Summary
“To improve you have to be measured, to be the best you have to be compared”
The Performance Assessment allows the Internal Audit activity to conduct a research process, to benchmark, adapt and implement fluid and effective practises.
Performance assessment 1
For what objectives?
Raising expectations in terms of audit service quality
Challenging the routine delivery of key audit processes
Review the allocation of stretched audit resources
Establishing better control over patchy audit cycle times
Ensuring better « just in time » reporting
Optimizing flexibility and versatility of Internal Auditors
Key success factors
Setting credible and realistic goals
Perform an unbiased assessment of audit practices
Leveraging full potential benefits in a structured manner
Implanting relevant methods and effective practices
Aiming above and beyond stakeholder satisfaction
Rethinking audit processes with long term competitiveness in mind
Facilitate change management whilst maintaining audit activities in motion
A structured and pragmatic Performance Framework
