5 Domains of the New IIA Global Internal Audit Standards

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

1. Establish a Purpose: Auditors provide oversight bodies with independent assurance + other good stuff.
2. Be Ethical & Professional: Maintain integrity and have the courage to tell the truth.
3. Enhance Relationship with Governing Body: Clarify the role of internal audit through a charter.
4. Manage the Audit Shop: Develop a strategy and an annual plan based on risk.
5. 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.