The City's Internal Audit department receives top External Quality Assessment rating for all standards

Municipalinfonet.com
Jan. 28, 2022

Integrity. Accountability. Responsibility. These are the principles that guide the City of Vaughan’s Internal Audit department. This commitment to good governance was proven as the team recently received the highest ranking achievable for every standard audited in its 2021 External Quality Assessment.

The International Standards for the Professional Practice of Internal Auditing (Standards) requires this assessment at least once every five years to evaluate whether or not internal audit activities are in conformance with the Institute of Internal Auditor’s (IIA) Standards and Code of Ethics. And Vaughan’s Internal Audit team received top marks!

This is the first time an external assessment was performed on the department -- and the City’s top achievement maintains confidence in the municipality, its governing body and operational performance measures. The “Generally Conforms” ranking it received demonstrates a clear intent and commitment to achieving core internal auditing practices, in addition to highlighting successful municipal practices and identifying opportunities for improvement. Based on the results, the next external assessment will be conducted in 2026.

The 2021 External Quality Assessment Results report was presented to the Audit Committee on Monday, Jan. 24, and ratified at the subsequent Council Meeting.