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'Very inclusive'

Alliance Boots

The reviewers adopted a pragmatic approach to our review, worked efficiently around some complexities including our multiple team sites, and quickly got to grips with our organisation and function.

The review felt very inclusive and there was adequate time allowed for discussion. The final outputs were concisely and professionally presented. Overall we were extremely pleased with the review and the approach adopted.

Julie Davis
Senior Manager, Group Internal Audit & Risk Management

'Positive validation'

BT

The EQA not only provided us with the positive validation that we required, we also received some very helpful suggestions and insight into other practices which we are aiming to deploy. 

Grant Harrison
Head of Internal Audit Operations

'Clear development plan'

Vanquis Bank

Every head of internal audit should do this. I came away with a clear development plan and assurance of conformity to the standards - plus a fired up audit team!

Ian Whybrow
VP Internal Audit

External quality assessment

Internal audit effectiveness review: An objective approach

To ensure your internal audit function conforms to the IIA's International Standards, regular independent external quality assessment is required. As the standard-setter we are ideally placed to conduct an EQA review of your operation.

View our range of EQA services


Our review services will ...

  • Assess how well your internal audit function conforms to the International Standards and how it relates to the financial services code and the public sector standards (PSIAS) if you operate in these sectors.
  • Evaluate performance in light of your internal audit charter and expectations of the board and executive management.
  • Identify opportunities to improve performance and increase the value of internal audit to the organisation.
  • Benchmark your activities against best practice and your best performing peers.

EQA objectivity


Why choose the IIA? 

  1. We are independent of any other organisation and because we set the standards, we truly understand them.

  2. We have no interest beyond promoting and developing the profession, so we never try to sell additional services you don't want or offer alternative suggestions to the delivery of internal audits.

  3. We offer a flexible approach and ensure that we place highly qualified reviewers who match your requirements.

  4. The majority of our work is carried out on site so it helps promote what you do and raises the profile of internal audit within your organisation.

  5. There will be no surprises as we'll discuss ideas as they arise. But we will challenge you and offer ideas and suggestions for continuous improvement.

Use our experience to benchmark your performance 

Our experience will provide invaluable insight into how you are performing against your peers. Chris Baker, who recently retired as IIA technical manager, explains more in his interview with Audit & Risk magazine. Read the article


What you can expect 

It's important to remember that an EQA is not an audit of the auditors, but a review of the processes and practices within the internal audit function. As such it is an ideal opportunity to benefit from a formalised and credible peer review, carried out by the standard setter.

You will receive regular feedback during the process. On completion, you will be in a position to:

  • Prove your conformance with the International Standards
  • Raise the profile of internal auditing within your organisation
  • Benchmark your services against similar organisations
  • Offer ideas and suggestions to enhance the performance of the organisation
  • Develop training plans for the internal audit team
  • Provide a report to your audit committee

The process will deliver value to all your organisation's stakeholders as well as helping to establish a culture of continuous improvement and engage, motivate and develop the audit team. 

Book an EQA or find out more

For a quote or to discuss your needs please complete an enquiry form or email eqa@iia.org.uk or call 020 7498 0101.     


Further reading

Here are some useful benchmarking documents and materials: