How often will the Audits and Inspection Unit (AIU) auditors conduct a risk assessment for all Office Divisions at a minimum?

The Audits and Inspection Unit (AIU) conducting a risk assessment for all Office Divisions once every 3 years is essential for maintaining a consistent and thorough evaluation of organizational risks. This timeframe allows sufficient opportunity to identify changes in potential risks associated with operations, compliance, and overall performance since an assessment every year may be too frequent for some divisions, leading to redundancy and potential audit fatigue.

Three years strikes a balance between regularly updating the risk profiles of the divisions and not overburdening the departments with constant assessments. This cyclical approach ensures that the divisions have adequate time to address any findings from the previous assessment while still remaining vigilant about emerging risks in a rapidly changing environment. Regular intervals, like every 3 years, help ensure that assessments remain relevant and manageable for all stakeholders involved.