Matters concerning evaluation of the creditworthiness of consumers have returned to the focus during the last year. Discussions revolve around consumers’ increased loan burden and share of loans in default; there is lobbying for additional support from the establishment of a positive credit registry, and the Financial Inspectorate has started getting tougher with fines on market participants who don’t abide by the rules.
According to the standards of the Institute of Internal Auditors (IIA), an external evaluation of the internal audit activity is performed at least once every 5 years.
We perform a full external assessment of the internal audit activity or an independent validation of the self-assessment depending on the client’s requirements.
The evaluation is based on:
- the Auditing Act
- Standards of the International Association of Internal Auditors (IIA) and the Professional Framework
- from the IIA Quality Assessment Manual for the Internal Audit Capability
- principles of good practice, ethics, independence, and objectivity
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