The new Global Internal Audit Standards were released on January 9, 2024, and will become effective January 9, 2025. The previous version, the International Standards for the Professional Practice of Internal Auditing, released in 2017, remains approved for use during a one-year transition period. The Global Internal Audit Standards guide the worldwide professional practice of internal audit. They serve as a basis for evaluating and elevating the quality of the internal audit function. The Standards use 15 guiding principles with five separate domains that enable effective internal audit implementation and examples of evidence of conformance. The Global Standards are organized into five domains. Domain I: Purpose of Internal Auditing Domain II: Ethics and Professionalism Domain III: Governing the Internal Audit Function Domain IV: Managing the Internal Audit Function Domain V: Performing Internal Audit Service
Learning Objectives
- Examine Domain V: Performing Internal Audit Services
- Discern Principle 13 Plan Engagements effectively
- Evaluate Standard 13.1 Engagement Communications
- Evaluate Standard 13.2 Engagement Risk Assessment
- Evaluate Standard 13.4 Evaluation Criteria
- Evaluate Standard 13.5 Engagement Resources
- Evaluate Standard 13.6 Work Program
Major Topics
- Internal Audit
- Internal Controls
- Standards
- Institute of Internal Auditors
