Format: On-demand
This 1.2-hour self-study course is designed to help internal audit professionals effectively prepare for an External Quality Assessment (EQA). The course will provide an overview of the EQA process, including key steps and best practices for a smooth and successful assessment.
Participants will learn how to conduct a thorough self-assessment, organize essential documentation, engage stakeholders, and demonstrate a commitment to continuous improvement. By the end of the course, attendees will be equipped with the knowledge and tools necessary to confidently prepare their internal audit function for an EQA.
Learning Objective(s):
- Understand the EQA Process: Describe the purpose, scope, and methodology of an External Quality Assessment.
- Select and Collaborate with an External Reviewer: Identify criteria for selecting a qualified external reviewer and understand the importance of independence and objectivity.
- Conduct an Internal Self-Assessment: Perform a self-assessment of the internal audit function against IIA Standards and best practices to identify strengths and areas for improvement.
- Organize and Prepare Documentation: Gather and organize all necessary documentation, including audit charters, policies, procedures, audit plans, and past audit reports.
- Prepare Internal Audit Staff: Brief internal audit team members on the EQA process and encourage openness and transparency during the review.
- Engage Key Stakeholders: Communicate effectively with senior management, the audit committee, and other stakeholders to ensure their involvement and support.
- Manage Logistics and Resources: Coordinate logistics and provide the necessary resources to facilitate the external reviewer’s work.
- Review Past EQAs and Implement Recommendations: Analyze findings from previous EQAs and document actions taken to address recommendations.
- Develop a Communication and Follow-Up Plan: Create a communication plan to keep stakeholders informed and a follow-up plan to address EQA findings and recommendations.