Wylie & Bisset secures full compliance from Chartered Institute of Internal Auditors’ External Quality Assessment
Glasgow-based chartered accountant Wylie & Bisset’s internal audit department has secured an outcome of ‘full compliance’ following a recent External Quality Assessment from The Chartered Institute of Internal Auditors.
With the Institute indicating that approximately a quarter of all External Quality Assessments result in full compliance, this achievement is all the more impressive given the significant growth in Wylie & Bisset’s Internal Audit Department over the last two years, including becoming the sole independent Scottish accountancy practice to be awarded lots on the prestigious Department for Education framework earlier this year.
Graham Gillespie, partner at Wylie & Bisset and head of its internal audit department, said: “Although Public Sector Internal Audit Standards require an External Quality Assessment every five years to evidence that work carried out is compliant, we’ve committed to an assessment every two years because we believe that a five year gap between assessments is too long and we want to evidence that we have ongoing compliance – a commitment that has been commended by The Chartered Institute of Internal Auditors.
“This is our third External Quality Assessment and our first to receive full compliance – which means that all 64 standards against which we are measured have been assessed as being fully compliant.
“Given the growth this department has achieved over the last two years, to be able to sustain and improve our quality, while simultaneously taking on a significantly greater volume of client work, is testament to the fact that there has been no compromise in quality for client gain.”
Wylie & Bisset delivers independent and objective internal audit services across a range of client organisations, primarily in the education, social housing, public and not for profit sectors. The firm provides an internal audit service aimed at adding value and providing solutions to clients’ problems while at the same time providing the required assurance.
The external quality assessment said that Wylie & Bisset “continues to deliver an effective, efficient and economic independent and objective assurance service”.
The assessor concluded that “the whole team should be proud of its internal audit service, its approach, working practices and how it is perceived by key stakeholders”.