IIA Quality Services

Elevating Internal Audit Quality Around the World

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Why is it important for an internal audit activity to conduct an External Quality Assessment (EQA)?

To demonstrate and certify conformance to the Global Internal Audit Standards™, which require an EQA at least once every five years.
To enhance stakeholders’ confidence in the internal audit activity’s credibility and effectiveness in meeting their needs and expectations.
To assess whether the internal audit activity has the right skills and strategies to meet future organization needs.
To evaluate the effectiveness of the Quality Assurance and Improvement Program (QAIP) in meeting requirements for continuous improvement, and to appraise and measure the efficiency and effectiveness of the internal audit activity.
To receive recommendations and a road map for implementing best practices to enhance internal audit conformance and performance in the future.
To gain valuable insights on the perception and reputation of the internal audit activity through in-depth interviews and surveys of stakeholders and internal audit staff.
To assess the internal audit activity’s alignment with the organization’s strategies, objectives, risks, and plans.