The Twin Cities IIA offers member companies a simple, cost-effective method to satisfy professional standards for periodic external assessments. IIA Standard 1312 stipulates that:
External assessments, such as quality assurance reviews, should be conducted at least once every five years by a qualified,independent reviewer or review team from outside the organization.
The Self-Assessment with Independent Validation (SAIV) process is an alternative quality assurance process for affirming that an internal audit organization conforms to IIA standards. The validation is based on a comprehensive and fully documented self-assessment prepared by an internal audit organization. It is intended to have more economical time and resource requirements than a full external assessment. For additional information on the process, refer to the IIA's Practice Advisories 1312-1, 1312-2, 1312-3 and 1312-4.
Twin Cities IIA member companies who are interested in using the Self-Assessment with Independent Validation process to satisfy the requirements, can submit the SAIV Application
to the Chapter Office.