Audit Quality: The Unsung Heroes of Internal Audit. Professional Practice Team

We all want confidence in the work internal audit does. We rely on it to provide clear, unbiased insights into how well our organisations are managing risks and operating effectively. But how do we ensure that quality? It doesn't happen by chance; it's deliberately built, nurtured, and constantly improved. In many top-tier internal audit functions, there's a dedicated group working tirelessly behind the scenes to make this happen: the Professional Practice Team.

In this two-part series, "Audit Quality: A Professional Practice Team," we'll explore what this team does and why they're so vital. First, we'll define what a Professional Practice Team is and look at their foundational role in setting and embedding quality. Then, in our next article, we'll dive into how they actually measure, assure, and continuously elevate that quality.

What is a Professional Practice Team?

Think of the internal audit team as a highly trained orchestra. Each musician (auditor) is talented, but to produce beautiful, consistent music (high-quality audit work), you need a conductor, a set of clear sheet music, and regular practice sessions. That's essentially what the Professional Practice Team (PPT) provides.

The PPT acts as the engine room or the backbone of the internal audit function. They're the specialists whose sole focus is ensuring the consistency, excellence, and continuous improvement of how audits are performed. They don't typically conduct individual audits themselves; instead, they equip and empower the audit teams to deliver top-notch results every time.

Here are some of their core responsibilities in building that foundational quality:

• Maintaining the Audit Methodology: This is the "how-to" guide for every audit. The PPT owns and maintains this critical document, ensuring it's clear, practical, and outlines a consistent approach from the initial planning stages right through to the final report. This means every auditor, no matter their experience level, follows the same playbook, leading to consistent, reliable outcomes.

• Incorporating Professional Standards: The world of audit has established professional standards, like those set by the Institute of Internal Auditors (IIA), including the IIA UK Code of Practice. The PPT is responsible for translating these global benchmarks into the team's everyday methodology. They ensure that all audit work meets these rigorous external expectations, reinforcing the credibility and trustworthiness of the function.

• Managing Auditor Training, Development, and Progression: A high-quality audit team needs highly skilled auditors. The PPT designs and manages the training programs, ensuring auditors have the right technical knowledge, critical thinking skills, and soft skills (like communication) to excel. They also guide career progression, helping auditors develop and stay current with evolving risks and best practices. This direct investment in people directly translates into better audit quality.

• Knowledge Management: Imagine if every audit started from scratch, without learning from previous experiences. The PPT prevents this by centralising valuable knowledge. They manage repositories of best practices, templates, lessons learned from past audits, and relevant research. This ensures that the entire audit team benefits from collective wisdom, making each new audit more efficient and effective.

  
  

In essence, the Professional Practice Team is the unseen force that enables the entire internal audit function to operate with consistency, professionalism, and a high standard of quality. They ensure that every audit engagement is performed effectively, building confidence in the insights provided.

Conclusion: The Professional Practice Team is absolutely crucial for an internal audit function that genuinely seeks to deliver high-quality work. By meticulously maintaining methodology, embedding professional standards, fostering auditor development, and managing vital knowledge, they lay the indispensable groundwork for consistent, reliable, and impactful audit outcomes. They truly are the unsung heroes building audit excellence from the inside out.

What's Next?

So, we know the PPT sets the stage for quality. But how do they actually check, measure, and continuously elevate that quality in practice? In our next article, "Audit Quality: Measuring, Assuring, and Elevating Excellence (Part 2/2)," we'll dive into their role in internal and external quality assessments, and how they drive continuous improvement. Don't miss it!