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EQA - What's In It For Me?

This presentation by the IIA's Technical Manager, Chris Baker, explores the importance of External Quality Assessment (EQA), what to expect, what's involved, how to prepare, and the benefits it offers. Includes a case study on independence and objectivity, and what makes a winning team.

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EQA - What's In It For Me?

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  1. EQA – what’s in it for me? • A presentation by the IIA’s Technical Manager, Chris Baker, 24th February 2015

  2. Agenda • Why bother with EQA? • What should I expect? • What’s involved? • How do I prepare? • What will I get? • How do I compare? • Case study – Independence & objectivity • What makes a winning team? • What does the IIA offer?

  3. Why bother? …Because the STANDARDS say so… • Attribute standard 1312: • ‘External assessments must be conducted at least once every five years by a qualified, independent reviewer or review team from outside the organisation.’ • But why………WIIFM?

  4. BECAUSE it will help you to… • Recognise your achievements. • Be better at what you do. • Raise your profile. • Remove barriers for change. • Motivate your team. • Develop a culture of continuous improvement. • Opens up new opportunities.

  5. What should I expect? • An understanding of your organisation and role IA plays. • Support but also Challenge. • Practical ideas and suggestions. • Closeout meeting, no surprises. • Discussion and development of the draft report. • A draft and final report in style that suits you. • Final report within your timescale

  6. Discussions with audit committee members and senior managers. • Discussions with you about: • Risk based planning • Resources • Independence & objectivity • Quality • Approach and methodology • Reporting • Follow-up What’s involved?

  7. Agree a timetable with the audit committee and senior management linked to audit committee meetings. • Engage the IA team – establish a lead contact point for reviewers. • (Complete the self-assessment checklist – 60 separate standards so give yourself enough time.) • Build a file of documents so the review goes smoothly. • Establish an interview schedule in advance. How to prepare?

  8. What will I get? • 2 Reports in a style that suits you. • Short report containing: • An opinion on your level of conformance to the Standards. • Practical ideas and suggestions for Audit Committee, senior management and IA. • SWOT analysis • MATRIX of effectiveness • Completed checklist containing Standard by Standard assessment with record of evidence review

  9. How do we compare ?MATRIX OF IA ‘EFFECTIVENESS’

  10. CHAIRS of AUDIT COMMITTEEs tell us they really value unbiased opinions from IA and rely on IA to go anywhere and look at anything. It’s important to emphasise, promote and safeguard that IA is independent and objective. How do you do that - lets look at an EQA case study? Independence & Objectivity

  11. What makes a winning team? To summarise: Be independent & objective – this is what audit committee members and senior managers really value. Build effective relationships – raise your profile and build trust and confidence in IA. Develop your people – training, coaching, teamwork and create a culture of continuous improvement. Focus on the things that matter – assurance around key objectives, risks and areas of change. Design process that are effective and efficient – a process that provides value and has an impact

  12. We tailor our approach to fit your needs What does the IIA offer? • Tailored options: • Validated self-assessment, • Facilitated self-assessment, • Full EQA. • Experienced Reviewers. • Quality and consistency. • An affordable alternative • At a fair price. • With no added selling.

  13. Thank you - Learn More • Please look at the Quality services page on our new website • http://www.iia.org.uk/our-services/external-quality-assessment/ • Pick up a brochure or contact me directly • Chris.Baker@iia.org.uk

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