How are audit firms/auditors selected?
The CFSI approves audit firms and individual auditors (from the approved firms) to allow them to conduct CFSP audits. The auditor approval process is designed to verify that auditors have appropriate experience and expertise, that they have completed the required CFSP training, and that there are no conflicts of interest when undertaking CFSP audits. The approval process follows the relevant requirements outlined in ISO 17011, the international standard for accrediting certification/assessment bodies. Please review the Audit Firm and Auditor Approval Process for detailed information on CFSI requirements.
The CFSP uses multiple audit firms to create a cost competitive audit program and using regional auditors minimizes auditor travel costs. Using a small number of audit firms currently is seen as a benefit to establishing auditor consistency during the early phases of Program.