External Quality Assessment (EQA) for financial services organisations
Independent, specialist reviews for internal audit functions operating in complex and regulated environments.
Financial services organisations operate in one of the most demanding governance, risk and regulatory environments. Boards, audit committees, regulators and senior executives expect internal audit functions to provide robust, independent and forward-looking assurance over the risks that matter most.
What we deliver
The Chartered IIA is increasingly recognised across the financial services EQA landscape for delivering independent, credible and practical assessments. Our reviews combine deep knowledge of professional standards with an understanding of the expectations placed on internal audit functions in regulated, risk-sensitive and stakeholder-driven environments.
- Assessment against the Global Internal Audit Standards
- Benchmarking against the Internal Audit Code of Practice
- Consideration of relevant Essential Conditions
- Assessment of readiness for relevant Topical Requirements
- Review of internal audit governance, strategy and methodology
- Assessment of stakeholder engagement and audit committee reporting
- Identification of strengths and recognised good practice
- Practical and prioritised recommendations
- A clear action plan to support continuous improvement
- A report suitable for audit committees, boards and senior stakeholders
Why choose us
Genuine independence
At the Chartered IIA, we do not outsource services. This means we don't have a commercial interest in replacing your internal audit provider or selling additional delivery services.
Experienced EQA reviewers
Our review panel is comprised of experienced Heads of Internal Audit, many of whom have held senior executive, board and non-executive positions. The individuals named in our proposal are the same individuals who undertake the assessment.
Financial services expertise
We understand the expectations placed on internal audit functions operating in financial services. Our reviewers bring experience of governance, risk management, regulation, assurance, methodology and stakeholder engagement across complex environments.
Practical recommendations
Our reviews are not designed to create unnecessary process or bureaucracy. We provide recommendations that are clear, prioritised and realistic, aligned to maturity, resources, operating model and stakeholder expectations.
Credibility with senior stakeholders
Our reports are designed to be suitable for audit committees, boards, executive management and, where appropriate, external stakeholders. We provide clear conclusions, evidence-based findings and recommendations that support informed discussion and action.
Underpinned by the GIAS
We are the professional body for internal auditing in the UK and Ireland. Our reviews are grounded in the Global Internal Audit Standards, the Internal Audit Code of Practice, Topical Requirements and recognised good practice.
Meet the Quality Services Panel
David Alexander
David has nearly 30 years' experience as a global Chief Audit Executive for regulated financial services organisations and more recently as an adviser to boards and audit committees on the effectiveness of their internal audit and other governance arrangements. His experience has covered all aspects of financial services, with particular focus on mid-tier banking, London Market insurance and wealth management.
David has carried out over 60 EQAs over the last 10 years and also regularly provides training and mentoring for Chief Audit Executives and non-executive directors.
David Barnes
David Barnes is a qualified accountant with extensive experience of internal audit gained from over 20 years in various senior and executive management roles in financial services, most recently as the Chief Internal Auditor (SMF5) for HSBC UK.
Alison Diana
Alison is a qualified accountant and Head of Internal Audit with extensive internal audit and assurance services experience in the Financial Services sector gained over a period of 25 years. Alison has worked in the retail and investment banking sector and more recently in Professional Practice Services, where she has worked as a Director for Grant Thornton.
At Grant Thornton, Alison’s remit included leading on the External Quality Assurance service, covering Banks, Asset Management and Insurance firms.
Bethan Jones
Bethan Jones is a Chartered Accountant and experienced Internal Auditor with over 25 years’ experience delivering assurance, governance and risk services. She has held several senior roles, including Head of Internal Audit and Audit Committee Member.
Bethan operates as an independent internal audit consultant, delivering bespoke internal audit, governance and risk assignments to clients across multiple sectors. Her portfolio includes global organisations such as Aegon Group and Paysafe plc.
Bethan is an experienced External Quality Assessor and has been a member of the Chartered IIA’s EQA panel for a number of years, completing over 20 EQAs for organisations of varying size, scale and complexity, with a specific focus on public, utilities and financial services.
Androula Lythangomitis
Androula has over 25 years of internal and external audit experience from a range of financial services organisations as well as from the public sector. She has managed teams from small to very large both in the UK and internationally.
Riaan Thiart
Riaan Thiart, CIA has more than 27 years internal audit and management experience in the financial services industry, having worked for multi-national organisations across Africa, Europe, Scandinavia, and North and South America.
He held several leadership positions including Chief Audit Executive roles (SMF5) and Internal Audit Chief Operating Officer for a large multi-national internal audit function. He has been a member of the Chartered IIA’s EQA panel for 7 years, performing EQAs for the financial services, housing, and construction industries.
He also works with the French Institute of Internal Auditors where he performs EQAs on their behalf across Europe and the USA.
