02 — Capability · BC-160.50
Audit Quality & Independence
Keep the function competent, independent and trusted — through a methodology, quality reviews, skills development and candid reporting to the audit committee.
- Audit Methodology
- Quality Assurance Program
- Audit Committee Reporting
In scope
- Audit methodology and standards
- Internal and external quality assessments
- Auditor skills and independence safeguards
Out of scope
- Audit committee charter and operations (see BC-120)
Decomposes into · 4
- BC-160.50.10Audit MethodologyDefine how audits are planned, performed and reported so results are consistent regardless of who did the work.
- BC-160.50.20Quality Assurance ReviewAssess the function's own work against its methodology and professional standards, internally and periodically by outsiders.
- BC-160.50.30Auditor Capability DevelopmentBuild and maintain the technical, data and business skills the audit plan requires.
- BC-160.50.40Audit Committee ReportingReport plan progress, significant findings and the state of the control environment to the committee without softening.