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'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

Helping you set the standards in your internal audit function

Our approach is centred on the practices of the profession with an emphasis on corporate governance, risk management and control. Conforming to the International Standards requires that regular, independent EQAs are carried out at least once every five years. As the standard-setters, we’re ideally placed to support you in conducting an EQA review of your operation. 

We offer a range of services from comprehensive in-depth reviews and self-assessment options to tailored consultancy. 


Why choose the Chartered IIA?

Together, we’ll work closely with you to discuss ideas as they arise to ensure there are no surprises along the way. We will offer you support but also challenge and we will always offer new ideas and suggestions for continuous improvement.

We work with a variety of organisations across a stream of sectors ranging from FTSE100 companies to charities and private and public sector bodies.

Raise your profile and promote the work you do.

The majority of work we carry out for you will be onsite, giving you an opportunity to raise your profile and the profile of internal audit within your organisation.

Our 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), where appropriate.
  • Evaluate performance, considering 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. You will receive regular feedback during the process and, on completion, you’ll be able to:

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

Our services

Full EQA: in depth and comprehensive

Our reviewers will provide a full EQA that involves surveys and interviews with the head of internal audit, internal audit staff, audit committee members, customers and stakeholders. This is supported by an examination of the internal audit approach and methodology leading to the completion of an independent report.


Readiness assessment: are you prepared?

Are you planning an EQA or new in post? Our readiness assessment will help you prepare for a full EQA and give your internal audit function a 'health check'. We’ll look at the foundations and attributes of your internal audit function and highlight potential risks to your conformance with the Standards. They will also offer guidance on how to address these issues and improve effectiveness.


Validated self-assessment: you assess, we validate

We will validate the self-assessment carried out by the head of internal audit. We will review evidence and conduct interviews with senior management and the chair of the audit committee.


Follow-up review: an update on progress

Prove you conform to the standards and validate the enhancements you've made since your last review. We’ll assess your implementation of EQA action points and acknowledge the progress you've made. Members can benefit from a free self-assessment check list, a great resource to help prepare for an EQA or to benchmark the quality of your current internal audit process. Get the checklist 

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.

Read frequently asked questions   


Further reading

Here are some useful benchmarking documents and materials: