Take your internal audit function to the next level with this request for proposals (RFP) tool. Designed to streamline the proposal process for organizations seeking external consultants to evaluate their internal audit functions, this resource ensures alignment with the International Standards for the Professional Practice of Internal Auditing (IIA Standards) by providing clear guidance on structuring and submitting proposals. Emphasizing clarity, completeness, and compliance with industry best practices, this RFP facilitates a seamless process for both the requesting organization and potential service providers. It not only enhances the transparency of expectations but also aids in maintaining confidentiality and professionalism throughout the engagement, ensuring that every proposal is evaluated on its merits. Organizations leveraging this tool are better equipped to identify qualified consultants who can effectively assess audit independence, proficiency and adherence to critical standards.

This tool includes two detailed sample templates tailored to meet varied organizational needs. Sample 1 focuses extensively on general administrative requirements, confidentiality clauses and submission protocols, ensuring that respondents adhere to strict guidelines while presenting their capabilities. It also outlines the evaluation criteria, such as staff expertise, methodology and pricing structure. Sample 2 delves deeper into the scope of work, specifying areas like structural independence, risk assessment methodologies and reporting practices. Additionally, it highlights the deliverables expected from the quality assessment review, including recommendations for improvement and benchmarking against best practices.

Sample content includes:

• Proposals should provide a straightforward and concise description of the capabilities of the respondents to satisfy the requirements of the RFP.
• Describe your QA methodology and differentiating factors that provide enhanced value to clients.
• Describe how your company can be confident that you will contribute value to the organization through this engagement.