We recently merged with another company. Does our five-year period begin at the time of the merger?

The five-year cycle starts when an IA activity formally adopts the Standards. If the Standards were formally adopted at the same time as the merger occurred, then the five-year cycle began at the same time. If the Standards were previously formally adopted by the surviving internal audit activity, then the five-year cycle starts when the Standards were first adopted or from the most recent external QA, whichever is later. Adoption of the Standards establishes the intent of the IA activity to comply, and as a result, is considered the starting point of the five-year period before an external QA is required. Evidence to examine to support the date of the adoption of the Standards would include audit committee minutes, updates to the audit charter, and the use of the phrase "conducted in conformance with the Standards" in audit reports, etc.