I am a new CAE for a company that was spun out of another company two years ago. We established a new IA function in this company at that time. When does my five-year period begin?

In this situation, the internal audit activity is considered as being established two years ago when the company was spun out of another company. The five-year cycle starts when an IA function formally adopts the Standards. If the Standards were formally adopted at the same time as the spin-off occurred, then the five-year cycle began at the same time. Adoption of the Standards establishes the intent of the IA activity to comply, and as a result, is considered the starting point of the five-year period before an external QA is required. Evidence to examine to support the date of the adoption of the Standards would include audit committee minutes, updates to the audit charter, and the use of the phrase "conducted in conformance with the Standards" in audit reports, etc.