Based upon my opinion only.https://www.dfs.ny.gov/system/files/documents/2019/12/bf419text_0.pdf
419.11 deals with oversite. Having IA conducting this part of this would put them as part of the process (not a good thing)..
If Audit is part of the process for this it may also jeopardize IA independence in part of the Vendor Management review.
I would recommend someone else conducting the review and have IA review it as part of the Vendor management review.
Vendor management IA review is an examiner expectation in NY.
Once again just an opinion.