The Institute of Internal Auditors Presents: All Things Internal Audit
In this episode, IIA Quality Services advisors share firsthand experience conducting external quality assessments (EQAs) in alignment with The IIA's Global Internal Audit Standards. From the importance of governance structure and CAE engagement to navigating the Standards, this episode highlights what makes a high-performing audit function and where even seasoned teams can stumble.
KEY POINTS:
Introduction [00:00–00:00:56]
Welcome to Tales from the EQA Trenches — Introducing The IIA's Quality Services team.
Common Challenges When Starting an EQA [00:01:07–00:05:36]
Susan Verghese discusses why understanding governance structures is critical, how CAE attitudes impact assessment outcomes, and common improvement areas like charters, manuals, and assurance mapping.
Governance and Leadership Support Make or Break Audit Quality [00:05:36–00:07:55]
Keith Kahl contrasts two real-world audit functions—one struggling under limited support and another thriving with strong audit committee engagement and trust.
Opportunities Under the New Global Standards [00:07:55–00:10:56]
Hania Abrous-McCarthy highlights how the new Standards give CAEs a chance to reset their functions, refresh independence, and fine-tune internal audit's value proposition.
Advice for Organizations Preparing for EQAs [00:10:56–00:11:59]
Warren Hersh encourages teams to use the IIA's Standards Knowledge Center and Quality Services webpage for resources like the Conformance Readiness Tool and insights on QAIPs and topical requirements.
Closing and Future Episodes [00:11:59–00:12:16]
Warren previews more "Tales from the Trenches" stories coming soon from The IIA's Quality Services team.
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