Ongoing monitoring activities are part of the internal assessments within a quality assurance and improvement program (QAIP). Planning and supervising engagements are integral components of ongoing monitoring.
These activities ensure that internal audit engagements are properly planned, executed, and supervised, adhering to established standards and procedures. They help in continuously assessing the performance and effectiveness of the internal audit function and ensuring compliance with professional standards.
References:
* IIA Standard 1300: Quality Assurance and Improvement Program
* IIA Practice Guide: Quality Assurance and Improvement Program