The new Global Internal Audit Standards were released on January 9, 2024, and will become effective January 9, 2025. The previous version, the International Standards for the Professional Practice of Internal Auditing, released in 2017, remains approved for use during a one-year transition period. The Global Internal Audit Standards guide the worldwide professional practice of internal audit. They serve as a basis for evaluating and elevating the quality of the internal audit function. The Standards use 15 guiding principles with five separate domains that enable effective internal audit implementation and examples of evidence of conformance. The Global Standards are organized into five domains. Domain I: Purpose of Internal Auditing Domain II: Ethics and Professionalism Domain III: Governing the Internal Audit Function Domain IV: Managing the Internal Audit Function Domain V: Performing Internal Audit Service
Learning Objectives
Discern Principle 14 Conduct Engagement Work Evaluate Standard 14.1 Gathering Information for Analysis and Evaluation Evaluation Standard 14.2 Analysis and Potential Engagement Findings Evaluate Standard 14.3 Evaluation of Findings Evaluate Standard 14.4 Recommendations and Action Plans Evaluate Standard 14.5 Engagement Conclusions Evaluate Standard 14.6 Engagement Documentation Discern Principle 15 Communicate Engagement Results and Monitor Action Plans Evaluate Standard 15.1 Final Engagement Communication Evaluation Standard 15.2 Conforming the Implementation of Recommendations or actions
Major Topics
Internal audit Standards Institute of Internal Auditors GIAS IPPF
