Internal audit activities are required to obtain External Quality Assessments (EQAs) or validation from independent review teams at least once every three to five years in order to comply with the Institute of Internal Auditors (IIA) International Standards for the Professional Practice of Internal Auditing.
Kenya Factors pool of seasoned Auditors undertakes External Quality Assessments and evaluate conformance with the IIA code of ethics, the definition of internal auditing within the organization, audit committee and internal audit charters, best practices, and organizations’ risk and control assessments.
Our assessment helps organization with proper planning and guidance, which enables internal audit activities achieve smooth and positive reviews. By verifying conformance with the IIA standards before a review, organizations can ensure a positive opinion and save time and money that may otherwise be wasted on remediation efforts.
Positive EQA affords the following benefits to the organization.
- Enhanced internal audit reports
- Increased stakeholder confidence
- Evidence of dedication
- External audit reliance