What are the approaches for an EQA?

External Quality Assessment (EQA) – The most comprehensive approach not only supports conformance, but also provides an objective assessment of the internal audit activity’s effectiveness. An independent assessment team of experts conducts surveys, interviews, and workpaper reviews leading to a documented opinion on conformance with the Standards, any observed opportunities for continuous improvement, and recommendations for adding value to the organization.

Self-assessment with Independent Validation (SAIV) – Approach meets the requirements of the Standards for an external assessment once every five years. An independent external assessor reviews and substantiates the work of the organization’s internal self-assessment team and alignment with the Standards via on-site visits, interviews, internal audit report signoff, or issuance of a disparities report.