What are the repercussions of not undergoing an external QA?

The CAE should report the rationale for nonconformance of the external QA requirement to the board and management. If the internal audit function does not undergo the external QA during the designated timeframe (once every five years), it is forbidden to use the phrase, "Conducted in accordance with the International Standards for the Professional Practice of Internal Auditing," in reports or its internal audit function charter. A CAE who uses this statement while not in conformance is subject to ethical disciplinary sanctions by The IIA.