Preparing for a Quality Assessment Review: What Internal Audit Functions Need to Know
As organisations continue to align with the Global Internal Audit Standards (GIAS), Quality Assessment Reviews (QARs) have taken on greater significance as a means of demonstrating the quality, credibility and effectiveness of internal audit functions. Against this backdrop, IIA Singapore's webinar, “Preparing for a Quality Assessment Review: What Internal Audit Functions Need to Know”, held on 9 July 2026, brought together participants from Singapore and across the region to gain practical insights into preparing for an External Quality Assessment (EQA).
The webinar was presented by Nicodemus Tan, Partner, Governance, Risk and Sustainability, Baker Tilly Singapore, who provided participants with a practical understanding of what external reviewers assess, the common gaps identified during reviews, and the steps internal audit functions can take to strengthen their readiness. Nicodemus began by outlining the purpose of a QAR and its role in demonstrating conformance with the GIAS. He explained that beyond satisfying compliance requirements, a QAR provides organisations with an opportunity to evaluate the effectiveness of the internal audit function, identify areas for improvement and reinforce stakeholder confidence in the value that internal audit delivers.
The session explored the key components of the EQA process, including the documentation, governance structures and evidence typically reviewed by assessors. Participants gained insights into the expectations of external reviewers, the criteria used to assess conformance with the Standards, and how quality is evaluated across an internal audit function's policies, methodologies and practices. Nicodemus also highlighted common observations identified during Quality Assessment Reviews. These included inconsistencies in audit methodologies, insufficient documentation to demonstrate conformance, gaps in quality assurance processes, and opportunities to better align internal audit activities with stakeholder expectations and organisational objectives.
The webinar concluded with an engaging question-and-answer session, where participants sought advice on practical implementation challenges and approaches to strengthening quality management within their internal audit functions. As organisations continue to navigate an evolving risk environment and increasing stakeholder expectations, the session reinforced that quality is more than a compliance requirement, it is fundamental to building trust, enhancing organisational governance and positioning internal audit as a valued strategic partner.
