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External Quality Assessments Aligned to the Global Internal Audit Standards
Cherry Hill Advisory provides independent External Quality Assessments aligned with the 2024 Global Internal Audit Standards. Our Q360™ methodology evaluates conformance, topical requirements, and audit maturity to strengthen credibility with audit committees and regulators.
Internal Audit Functions Are Facing Heightened Scrutiny
The 2024 Global Internal Audit Standards have raised expectations for internal audit functions. Audit committees are demanding clearer assurance, and regulators increasingly expect alignment not only with the Standards themselves but also with topical requirements covering areas such as cybersecurity, third-party risk, technology governance, and emerging operational risks.
Many internal audit teams believe their programs are performing well. What is harder to determine is:
- How closely the audit function aligns with the updated Global Internal Audit Standards
- Whether the Quality Assurance and Improvement Program (QAIP) is credible and defensible
- How the function compares to peer internal audit teams and leading practices across the profession
- Whether topical requirements and emerging risk areas are fully integrated into audit coverage
- Where the internal audit function sits on the maturity curve for governance, methodology, and stakeholder value
A quality assessment should do more than confirm compliance. It should provide internal audit leaders with clarity on where the function stands and what will strengthen it going forward.
Not All Quality Assessments Are Created Equal
Cherry Hill Advisory goes beyond baseline conformance.
Our Q360™ methodology evaluates how effectively internal audit is positioned to deliver value across governance, methodology, stakeholder alignment, and emerging risk areas.
Each assessment includes maturity benchmarking, stakeholder insight, and practical recommendations that help internal audit provide stronger insights to leadership and better support how the organization manages risk.
What you're used to
- Assessment providers without formal authorization under the IIA Quality Assessment Manual
- Reviews focused only on basic conformance with the Standards
- Few comparisons against leading practices
- Checklist driven evaluations with limited benchmarking or stakeholder insight
- Generic observations without clear prioritization
- Final reports with no external validation of the assessment
- External Quality Assessments performed by an IIA Authorized Licensee
- Assessment aligned with the Global Internal Audit Standards and topical requirements
- Benchmarking of internal audit maturity across governance and methodology
- Q360™ methodology combining conformance testing, maturity benchmarking, and stakeholder insight
- Findings prioritized based on what will most strengthen the audit function
- Digital EQA certification badge with independent verification through our verification portal
Our Internal Audit Quality Assessment Options
Internal audit functions differ in size, structure, and regulatory exposure. Cherry Hill Advisory provides scalable quality assessment solutions aligned with where your function stands today.
Q360™ External Quality Assessment (EQA)
Best for organizations due for the independent five-year EQA.
A full External Quality Assessment against the 2024 Standards: stakeholder interviews, methodology review, conformance analysis, and a maturity benchmark.
Agentic EQA
Best for teams that want an AI-enabled EQA with CIA sign-off.
An agentic assessment team runs the full IIA Quality Assessment Manual end to end, and a Certified Internal Auditor who meets the IIA independence and competency requirements reviews and signs the opinion.
AuditPulse Snapshot
Ideal for teams exploring the new Standards.
A focused review of how your function aligns with the Global Internal Audit Standards, naming the gaps in methodology, documentation, and governance.
Q360™ Gap Assessment
Best for teams that want to close gaps before a formal EQA.
A structured readiness review that identifies Standards gaps, evaluates QAIP documentation, and gives targeted recommendations ahead of the full assessment.
Quality as a Service
Best for teams that want ongoing readiness between formal assessments.
Ongoing advisory support that keeps your Quality Assurance and Improvement Program current and strengthens methodology between EQAs.
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Topical Requirements Readiness
Best for teams preparing for new IIA Topical Requirements.
A coverage review against the Topical Requirements, including cybersecurity, third-party risk, and the areas still being issued.
What You Receive from a Cherry Hill External Quality Assessment
Cherry Hill Advisory delivers more than a standards attestation. Our External Quality Assessments provide insight that helps internal audit leaders strengthen the effectiveness and credibility of their function.
- Formal EQA Report
A comprehensive report confirming conformance with the 2024 Global Internal Audit Standards, including evaluation across the principle domains and applicable topical requirements. - Conformance Ratings Matrix
A structured summary showing how the internal audit function performs across the standards, providing clear communication for leadership and the audit committee. - Executive Presentation for Leadership and the Audit Committee
Clear communication of findings, strengths, and improvement opportunities presented in a format designed for executive leadership and board-level discussion. - Maturity Assessment and Benchmarking
Using recognized internal audit maturity models, we evaluate how the function performs across governance, stakeholder engagement, risk coverage, and operational effectiveness. This benchmarking provides a clear picture of where the function stands today and where it can grow. - Q360™ Stakeholder Insight
Cherry Hill Advisory’s Q360™ methodology captures feedback from stakeholders across the organization to evaluate how internal audit is perceived and how effectively it supports leadership. - Strategic Improvement Roadmap
Assessment findings are translated into a practical roadmap that prioritizes improvements and helps internal audit evolve over time. - Panel Consistency Review
Every External Quality Assessment undergoes an independent panel review before the final opinion is issued. This process confirms that conclusions are supported by evidence and aligned with the standards.
Certified External Quality Assessment Badge
Organizations receive a Cherry Hill Certified External Quality Assessment badge confirming the review was performed by an IIA Authorized Licensee and completed the firm’s independent consistency review process.
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Ways to start, at any size
Know where you stand before the assessors arrive
A full EQA is the right answer for many functions. It is not the only door in. Start with a free screener, a scored snapshot of your quality posture, or our new Agentic EQA. A Certified Internal Auditor reviews every one.
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Topical Requirement Screener
See how each IIA Topical Requirement applies to your function, with gaps and remediation priorities. A quick first look, no commitment.
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Audit Pulse Snapshot
Six domains scored on our Q360 methodology against the Global Internal Audit Standards. A board-ready view of where you are strong and where you are thin.
Book a call
Agentic EQA
An agentic assessment team works the full IIA Quality Assessment Manual end to end. An independent Certified Internal Auditor reviews and signs the opinion.
A Clear, Practical Assessment Process
Our Q360™ framework follows four disciplined phases designed to minimize disruption while delivering meaningful clarity.
QUEST
We begin with rapid fact-finding through leadership interviews, secure document review, and targeted data analysis. This allows us to quickly understand how your internal audit function currently operates while minimizing disruption to the team.
QUANTIFY
Next, we benchmark your internal audit function against leading practices and peer organizations. This provides leadership with a clear picture of where the function stands today and where improvements can create the most impact.
QUICK-WIN
We work with internal audit leadership to identify practical improvements and develop a 90-day action plan focused on strengthening the effectiveness and credibility of the audit function. These early improvements help build momentum and demonstrate value quickly.
QUALIFY
Finally, we complete a full evaluation of internal audit maturity and alignment with the Global Internal Audit Standards and applicable topical requirements. The result is a clear assessment of the function along with recommendations that support long-term improvement.
External Quality Assessment Questions, Answered
What is an internal audit External Quality Assessment?
An External Quality Assessment is an independent review of how well an internal audit function complies with the IIA Global Internal Audit Standards. It evaluates the function's charter, methodology, audit plan, technology, talent, reporting, and governance against the Standards, and produces a graded conformance report. The audit committee and the CAE use the result to decide what to fix and what to scale, and Cherry Hill's EQA practice is built to deliver findings the CAE can act on within ninety days.
How often is an EQA required?
The IIA Standards require an external quality assessment at least every five years for any internal audit function representing conformance with the Standards. Most CAEs run a self-assessment with independent validation in years two or three to avoid surprises in the formal year-five assessment. Cherry Hill performs EQAs under the 2024 IIA Global Internal Audit Standards.
What happens during an EQA engagement?
The assessor reviews the function's charter, methodology, audit plan, completed work papers, technology stack, and team capability, then interviews the CAE, senior management, and audit committee. The output is a conformance rating, specific improvement opportunities, and a benchmark against comparable functions. The strongest EQAs end with findings the CAE can act on within ninety days, not a binder, which is the Cherry Hill standard.
Let’s Strengthen Your Internal Audit Function
If your organization is preparing for an External Quality Assessment or looking to strengthen the maturity and effectiveness of internal audit, Cherry Hill Advisory can help.
