The new IIA Global Internal Audit Standards were released on January 9, 2024, and will become effective January 9, 2025.
These principle-based Standards guide the worldwide professional practice of internal auditing. Additionally, they serve as a basis to evaluate and elevate the quality of the internal audit function. They are relevant to all internal auditors, including those in the public sector and government.
Organized into 5 domains, the Standards cover the profession’s purpose, ethics, governance, management and performance.
5 Domains of the New IIA Global Internal Audit Standards
- Establish a Purpose: Auditors provide oversight bodies with independent assurance + other good stuff.
- Be Ethical & Professional: Maintain integrity and have the courage to tell the truth.
- Enhance Relationship with Governing Body: Clarify the role of internal audit through a charter.
- Manage the Audit Shop: Develop a strategy and an annual plan based on risk.
- Perform Engagements: Back up your conclusions and findings with evidence.
Want to learn more about the new Standards?
Then NOW is the time to register for The 2024 Global Internal Audit Standards, a 2-hour live webinar on August 1! Join Yellowbook-CPE.com guest speaker, Lynn Fountain, CPA CGMA CRMA MBA, as she guides students on how to approach the 5 Domains within the public sector.