Can you describe the process of self-assessment with independent validation (SAIV)?

An SAIV involves the completion of a rigorous self-assessment by the internal audit function followed by an assessment conducted by an external, qualified validator. In addition to reviewing the self-assessment, the validator substantiates some of the work completed by the self-assessment team, makes an on-site visit, and interviews senior management. The validator either co-signs the self-assessment report or issues a separate report on any disparities. Additional guidance can be located in the Quality Assessment Manual.