Our Values and Strength

PRA is committed to ensuring our assurance and business advisory services are of the highest caliber and stand up to the rigorous standards set out by the Institute of Internal Auditors (“IIA”). As such, PRA underwent a Quality Assurance Review by the IIA in November 2006. The IIA was engaged to conduct an independent validation of PRA’s self assessment for all Internal Audit activity throughout the organization. The primary objective of the validation was to verify the assertions made in PRA’s quality self-assessment report concerning adequate fulfillment of the organization’s basic expectations of the Internal Audit activity and its conformity to the IIA’s International Standards for the Professional Practice of Internal Auditing.

The IIA auditor found PRA’s self-assessment to be comprehensive and concurred fully with the Internal Audit activity’s conclusions in the self-assessment report and agreed with the overall assessment of Generally Conforms to IIA Standards. PRA will continue its pursuit of excellence by subjecting its practices to this same scrutiny every 5 years. Our strength comes in the form of the pursuit of service excellence while developing the technical expertise and experience of our staff.

PRA was formally accredited by the IIA to conduct Quality Assurance reviews in 2006. Based on the current accredited assessor status, as well as recent successful audit, PRA is in a unique position to assist other internal audit groups in preparing for an assessment or conducting an independent Quality Assurance review on those groups. This status has gained us the respect of our peers within our professional association through the IIA. We not only conduct audits for our clients, we also strive to improve their own Internal Audit Departments.

Finally, PRA is uniquely positioned within the marketplace to ensure engagement independence. Our independence is based on the management of potential conflicts that might arise from being both a provider of external and internal audit services as may be the case with some accounting firms. We have committed not to conduct external audits so as to ensure our work never places us in conflict with our clients or their relationships with third party organizations.