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Committees and Working Group
- Provide guidance on policies and the development of organisational goals to raise the Institute’s capability to deliver quality service.
- Long term strategic planning including financial sustainability, capability and capacity building to achieve the Institute’s mission.
- Ensure the establishment and maintenance of adequate controls for safeguarding the funds.
- Maintain, review, and approve financial, budgetary, and contractual policies and procedures; review all financial reports of the Institute.
- Ensure financial sustainability and review.
- Review and approve significant capital and project expenditure.
- Provide assistance to the Board of Directors in fulfillment of their oversight responsibilities for the Institute's financial reporting process, system of internal control and regulatory compliance management processes.
- Review audit plan, evaluate internal accounting controls and auditor’s report.
- Review the scope and results of internal audit procedures.
- Shall recommend to the Board retention and termination of the Independent auditors.
- May negotiate the compensation of the auditor on behalf of the Board.
- Ensure that the Independent auditors has the requisite skill and experience to carry out the auditing function for the Institute and its performance is carefully reviewed.
- Not in Terms of Reference, but in practice, Audit Committee will be presented with the Institute’s annual self-risk assessment.
- Review the nominations for members of the Board of Governors and assess the suitability of the nominated candidates or otherwise.
- Review and take into consideration the diversity of the Board of Governors members in terms of industry and sector representation.
- Review the appointment of the Office Bearers i.e., President, 2 Vice-Presidents, Secretary and Treasurer.
- Provide guidance in promoting the internal audit profession, elevating the value of internal auditing and to educate and influence key stakeholders.
- Advise on building relationships with organisations and stakeholders that impact the profession.
- Influence stakeholders to adopt IIA International Professional Practices Framework standards.
Education & Professional Development Committee
- Provide guidance on the formulation strategies to develop the Institute into a premier learning hub for Governance, Risk Management and Control (GRC), to:
- Provide core training for Internal audit professionals.
- Be the industry training grounds for thought leaders/members in GRC and related domains.
- Be a centre for knowledge sharing/exchange of ideas and expertise.
- Promote and enhance the development of high-performing internal audit professionals, indispensable to their organisations. This includes the review the annual training programme for IIA Academy.
- Forge relationships among students, academics, practitioners, administrators, and others to promote the role of internal auditing.
Membership & Certification Committee
- Provide direction and guidance on activities or programmes that promote membership growth as well as member retention.
- Provide overall guidance on continuous improvement of services or resources to members e.g., library, etc.
- Provide guidance on membership policies and related matters and services to members.
- Continuous engagement of members (membership engagement).
Technical & Technology Committee
- Identify critical and emerging issues that could impact internal audit activities and provide relevant and appropriate guidelines to the Institute’s members through newsletters or other platforms such as webinars or roundtable discussions.
- Participate in technical engagement with government, regulators and other stakeholders on relevant issues that may impact the internal audit profession.
- Oversee the quality process of the Institute to ensure that all articles submitted for publication on the Institute’s platforms or submission to 3rd party platforms under IIA Singapore’s banner, are reviewed for alignment with the International Professional Practices Framework and Global IIA foundational models, quality in terms of contents and usefulness for the target readership group(s).
- Work closely with other committees in the Institute to promote and enhance the professional development of internal audit professionals.
Young Professionals Working Group
- Develop strategies and implement programmes to engage young IIA Singapore members and promote integration of young IIA Singapore members with other members of the Institute.
- Actively promote and encourage membership with the Institute.
- Drive awareness and raise the profile of the internal audit profession among the young professionals in Singapore.
- Build an extensive network of young professionals with common interests (e.g., in internal audit and related topics).