Conformance Readiness Assessment
A self-assessment tool released by the IIA to help internal audit functions compare their current practices against the new 2024 Standards requirements. The tool identifies conformance gaps and supports implementation planning toward full compliance.
Source: IIA GIAS 2024, Conformance Readiness Assessment Tool
A Conformance Readiness Assessment is a structured self-evaluation through which an internal audit function compares its current practices against the requirements of the Global Internal Audit Standards (GIAS) 2024 issued by the Institute of Internal Auditors (IIA). The Institute has published a dedicated instrument, the Conformance Readiness Assessment Tool, that maps requirement by requirement whether the function complies and where gaps remain. It is not a formal rating but a diagnosis that forms the basis for an implementation plan toward full conformance.
For the board, the supervisory board and the audit committee, this baseline is valuable because it reveals early whether the audit function is ready for the new Standards. The GIAS 2024 set stricter expectations in several areas than the previous International Professional Practices Framework (IPPF), including strategy, governance and performance measurement. A readiness assessment prevents shortcomings from surfacing only during a formal external assessment, when correction is more costly and the rating is already fixed.
In practice, the assessment follows the structure of the Standards: the domains covering purpose, ethics, governance, managing the function and performing engagements. For each requirement the function rates itself, supports that rating with evidence such as the audit charter, policies and working papers, and identifies any gaps. The result is a list of priorities: which deviations are material, which quick wins exist, and which actions require more time. That list translates into a concrete improvement plan with owners and deadlines.
ONE Risk Advisory uses the readiness assessment as a stepping stone to a successful external quality assessment. The baseline shows how far the function stands from full conformance with the IIA standards, so that no surprises arise during the actual assessment and the team can improve in a targeted way before the formal rating is given.
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Related service External Quality Assessment (EQA)
Frequently asked questions
Is a Conformance Readiness Assessment the same as an EQA?
No. A readiness assessment is an internal baseline without a formal rating, whereas an External Quality Assessment (EQA) is an independent assessment that delivers a conformance rating. The readiness assessment prepares the function for that formal EQA.
When is the best time to run a readiness assessment?
Ideally before a formal external assessment and when transitioning to the Global Internal Audit Standards (GIAS) 2024. This lets you map gaps and remediate them before the external rating becomes final.
Which instrument is used for this?
The Institute of Internal Auditors (IIA) has published the Conformance Readiness Assessment Tool, which tests against each requirement of the GIAS 2024. This instrument identifies gaps and supports the implementation plan toward full conformance.
Does a readiness assessment produce a conformance rating?
No, a readiness assessment does not give a formal rating such as generally conforms or partially conforms. It is a diagnosis that helps the function prepare in a targeted way for the assessment in which that rating is given.