IIA Canada Advocacy: 2024 Policy Focus and Initiatives

IIA Canada’s Advocacy team is pleased to announce the 2024 policy focuses and the initiatives and programs we will be undertaking. In collaboration with Canadian chapters, members, and leaders, we have designed an advocacy program with initiatives aimed at achieving public policy goals in the following areas:

• Increasing internal audit brand awareness
• Environmental, social, and governance (including diversity, equity, and inclusion)
• Artificial intelligence
• Cryptocurrency exchanges
• Stock exchange requirements

Based on these policy objectives, we have designed an advocacy program with initiatives aimed at achieving public policy goals within the following areas. These programs will be achieved in collaboration with Canadian chapters, members, and leaders.

• Establish a Canadian Key Person Program (CKPP): Grassroots advocacy is an essential element of an effective advocacy program. As such, the CKPP will collaborate with chapters to facilitate meetings between chapters and their local elected officials or government stakeholders based on public policy priorities.
• Canadian Focused Public Policy Research: IIA Canada is proposing research to understand better and map the legal, regulatory, and public policy environment of the internal audit profession in Canada with a comprehensive report on the State of Internal Audit in Canada. The findings of this research will have long-term strategic value for the profession as an evergreen document, identifying variances, trends, shortcomings, and opportunities based on a set of pre-identified criteria.
• Toronto Stock and Cryptocurrency Exchanges Campaign: Internal auditors have an essential role in protecting the interests of consumers and investors; however, currently, there is no requirement for listed companies or cryptocurrency exchanges registered in Canada to have an internal audit function. As the same agencies regulate both types of entities, this campaign will aim to advocate for the requirement of a robust internal audit function for both publicly listed companies and cryptocurrency exchanges in Canada.
• Engaging in Public Comment and Discussion Opportunities Related to Policy Priorities: By providing feedback to public comment opportunities, The IIA can help shape policy and ensure that regulations and other proposals reflect the perspective(s) of the internal audit profession. Working with chapters and through the ongoing tracking of policy discussions, we actively seek opportunities to provide public comments to communicate the profession’s position, provide recommendations, and advance our public policy goals.

Building on the foundational advocacy efforts of 2023 in collaboration with Canadian chapters and internal audit leaders, we continue to strive for positive change and guide meaningful policy reforms critical to the internal audit profession in Canada.