Standards and Guidance
Revised Standards, Effective January 1, 2017
The International Internal Audit Standards Board (IIASB) released the revision to the Standards following consideration and approval by the International Professional Practice Framework Oversight Council (IPPFOC).
The International Professional Practices Framework (IPPF) is the conceptual framework that organizes authoritative guidance promulgated by The Institute of Internal Auditors. A trustworthy, global, guidance-setting body, The IIA provides internal audit professionals worldwide with authoritative guidance organized in the IPPF as mandatory guidance and recommended guidance.
The Mission of Internal Audit describes internal audit's primary purpose and overarching goal. Achievement of the mission is supported by the entire IPPF, including the mandatory elements of the Definition, Core Prinicples for the Professional Practice of Internal Auditing, the Code of Ethics and Standards, as well as all recommended guidance.
The mandatory elements of the IPPF are:
- Core Principles for the Professional Practice of Internal Auditing
- Definition of Internal Auditing
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
- Code of Ethics
- International Standards for the Professional Practice of Internal Auditing (Standards)
Conformance with the principles set forth in mandatory guidance is required and essential for the professional practice of internal auditing. Mandatory guidance is developed following an established due diligence process, which includes a period of public exposure for stakeholder input.
The recommended elements of the IPPF are:
Recommended guidance is endorsed by The IIA through a formal approval process. It describes practices for effective implementation of The IIA's Core Principles, Definition of Internal Auditing, Code of Ethics, and Standards.
Topics and Resources
The IIA guides the international profession of internal audit not only with Standards, but with numerous guidance resources to help internal auditors worldwide implement best practices in our ever-changing and growing field.
- Audit Committee Resource Exchange
- CBOK Resource Exchange
- COSO Resource Exchange
- Risk Resource Exchange
Watch Richard Chambers on the Audit Channel: 5 Changes to the Standards
Position Papers assist a wide range of interested parties, including those not in the internal audit profession, in understanding significant governance, risk, or control issues, and delineating the related roles and responsibilities of internal auditing.
While Position Papers are no longer an official part of the New IPPF, these documents are still relevant and valid for practitioners and other interested parties.
Technical support is exclusively for our members only. Members will receive support and guidance, including getting access to our technical guidance, bi-weekly updates and e-newletters, plus a host of other membership benefits. IIA Singapore will attend to queries only from its members (with limited exceptions for regulatory bodies and the news media). Queries shall be in writing and to include information of the member's name, membership number and contact telephone number. Please send the technical queries to email@example.com.