20 May 2026 · Junaid Khan
An External Quality Assessment (EQA) is required at least once every five years for any internal audit function that claims conformance with the IIA's International Professional Practices Framework. Too often it is treated as a compliance hurdle. Handled well, it is one of the most useful investments a Chief Audit Executive can make.
Confirming conformance with the Standards is the baseline, not the goal. A strong EQA assesses whether the function is effective — whether it focuses on the risks that matter, earns the confidence of the board, and improves the organisation's control environment.
That means looking past the manual and into the work itself:
A capable function is not one with no findings against the Standards — it is one that knows where it adds value and is deliberately closing the gaps.
We anchor every assessment in evidence: a review of methodology, a sample of engagements, and structured conversations with stakeholders who actually consume the function's work.
The deliverable should be usable. A short, prioritised set of recommendations — sequenced by impact and effort — is worth more than a 60-page report that restates the Standards. The test is simple: six months on, has anything changed?
If you are preparing for an EQA, the best time to start is before it is due. A light-touch readiness review removes surprises and turns the assessment into a genuine step forward.