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IIA Announces Proposed Changes to Internal Auditing Framework

After reviewing recommendations by an appointed global task force, the Institute of Internal Auditors (“IIA”) has proposed changes to the International Professional Practices Framework (IPPF). Announced on August 4th , the IPPF enhancements address increased demands on internal auditing. The changes would also not impact key IPPF elements like the internal auditing definition, the Code of Ethics or the Standards for the Professional Practice of Internal Auditing. Some of the more significant recommendations to IPPF include a mission statement, a set of 12 core principles, guidance concerning emerging issues, and restructuring guidance elements of “practice advisories” and “practice guides.” Particularly, the core principles would. Read More.

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Institute for Internal Auditors Issues French Standard

Announced by the Institute for Internal Auditors (“the Institute”), France has adopted a national standard for internal audit practices within the country’s government administration. Based on the Institute’s International Professional Practices Framework (“IPPF”), a globally recognized set of rules that helps audit professionals with internal auditing, the French standard features a formal code of ethics, and attribute and performance standards. Furthermore, there are plans to have the French standard part of a bigger framework containing both mandatory and non-mandatory audit guidance. With the inclusion of non-mandatory guidance in the two frameworks, it ensures internal audit rules are deemed suitable for. Read More.

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