Why This Service Matters?

A high-quality Internal Audit Function depends on clear, consistent and internationally aligned documentation. Many organizations struggle with outdated charters, inconsistent methodologies or fragmented audit procedures which causes quality gaps, regulatory issues and inefficiencies. ONFANO helps you design, build and modernize the core documents of your Internal Audit Function, fully aligned with IIA Standards, regulatory expectations and leading international practices.

What We Develop (Scope of Documents)?
1. Internal Audit Charter
Defines mandate, authority, independence and responsibilities of the Internal Audit Function.
2. Internal Audit Manual
Operational guide including methodology, planning, fieldwork, reporting and ethics expectations.
3. Audit Universe & Risk Assessment Framework
A structured, defendable approach for identifying, assessing and prioritizing audit areas.
4. Finding Evaluation & Rating Methodology
Clear criteria and rating scales to ensure consistency, transparency and comparability of audit findings.
5. Follow-up & Issue Tracking Procedure
A complete follow-up framework to monitor remediation, escalate delays and report progress to management and the Audit Committee.
6. Audit Committee Policy / Audit Committee Charter
Governance document defining roles, responsibilities, meeting structure and reporting expectations.
7. Competency & Training Framework
Skills, knowledge areas, proficiency levels and development paths for Internal Audit staff.
8. Quality Assurance & Improvement Program (QAIP)
A structured program to ensure continuous improvement and readiness for External Quality Assessments.
9. Audit Strategy
A forward-looking strategic direction for the Internal Audit Function covering vision, mission, priorities, value creation, resource model, technology roadmap, audit culture goals and alignment with organizational strategy.
Defines where Internal Audit wants to be in 3–5 years and how it will get there.

Typical Challenges We Solve

• Lack of formalized audit processes
• Inconsistent quality across audit engagements
• Difficulty meeting IIA Standards or regulatory expectations
• Unclear rating or follow-up criteria
• Audit universe not reflecting real risks
• Misalignment between Internal Audit and Audit Committee expectations
• No structured development path for auditors
• QAIP not documented or insufficient

We transform fragmented or outdated documentation into a coherent, modern Internal Audit framework.

Our Approach
1. Diagnostic Review
Assessment of existing documentation, processes and gaps against IIA Standards.
2. Co-creation Workshops
Working closely with CAEs, auditors and stakeholders to design practical, tailored methodologies.
3. Drafting & Standardization
We prepare all documents using clear language, templates and consistent structure.
4. Validation & Alignment
Documents are reviewed and refined together with stakeholders to ensure applicability.
5. Final Delivery & Implementation Support
We provide training sessions, implementation guidance and user-friendly templates.

Deliverables
You will receive:

• Full set of Internal Audit documents in editable format
• Tailored templates and tools
• Training for auditors on how to use the methodology
• Governance package for senior management and Audit Committee
• Optional: implementation support and QAIP alignment

Benefits

• Consistent audit quality across the entire function
• Clear expectations for auditors, management and the Audit Committee
• Stronger governance and better regulatory alignment
• New IIA Standards compliance
• Higher efficiency in planning, execution and reporting
• Greater independence and transparency

Who Is This Service For?

• Banks and financial institutions
• Corporates with growing audit functions
• Organizations preparing for an EQA (External Quality Assessment)
• Entities modernizing their audit methodology
• Companies building an Internal Audit Function from scratch