Big changes are underway to improve The IIA’s International Professional Practices Framework including the International Standards for the Professional Practice of Internal Auditing. The IIA aims to have a draft of the new Standards ready for public comment by the end of the first quarter of 2023.
The International Internal Audit Standards Board, under the oversight of the IPPF Oversight Council, maintains a diligent standard-setting process that includes consideration of stakeholders and the public interest. This process has included gathering input from thousands of individuals and organizations including global IIA affiliates, internal audit professionals, standard-setters, regulators, and other stakeholders worldwide for nearly two years. The details of the latest stakeholder engagements are described in a new blog post on InternalAuditor.org.
In addition to extensively researching other recognized standards-setting bodies for benchmarking purposes, the Standards Board solicited feedback from:
- 3,600 internal audit practitioners from 159 countries via a 2021 survey.
- Representatives from 114 IIA Global Affiliates via webinars, surveys, in-person and virtual Q&A sessions, and two Global Assembly meetings.
- More than 70 firms and individuals interested in internal auditing standards.
- 5,000 practitioners and interested participants who attended a public webinar detailing proposed changes.
Currently, the Standards Board and The IIA’s technical team are considering feedback from these events as they continue to develop a draft that will be posted for public comment. The 90-day public comment period is the best way for all interested parties to read the complete proposed draft and provide input via a survey. The survey results will inform a revision and final draft of the Standards.
Here are a few ways you can learn more and get involved:
- Visit the IPPF Evolution webpage and read the FAQs.
- Watch the recording of the public webinar for an overview.
- Read the Internal Auditor magazine article.
- Discuss potential changes within your organization and with colleagues.
- Check back frequently for updates about the public comment period.