The Institute of Internal Auditors is considering revisions to its International Professional Practice Framework (IPPF), which acts as a set of practice and conduct standards for the internal audit profession.
As part of an ongoing process, and to continue to meet the demands of internal audit professionals and the expectations of their stakeholders, the IIA will be seeking input and perspectives on the current IPPF, its accompanying International Standards for the Professional Practice of Internal Auditing (Standards), and authoritative guidance. Details will be announced at a later date. “The IIA has the responsibility of ensuring the IPPF remains reliable and relevant, and delivered in a way that provides structure and clear guidance,” the IIA said in a statement announcing the plans.
“Internal audit’s mission to ‘enhance and protect organizational value’ has never meant more amid a world that grows increasingly complex. Internal auditors help their organizations confront the challenges by providing timely and objective ‘assurance, advice, and insight’ built upon a strong foundation—the IIA’s the Professional Practice Framework,” the IIA said.
The International Internal Audit Standards Board, which develops, issues, maintains, and promotes the Standards, is beginning to explore whether opportunities exist to improve the IPPF and the Standards to ensure they continue to effectively support internal audit professionals in fulfilling their mission.
“The IPPF should not be considered a static document, something that might be scanned but then ignored. It and the Standards are valuable resources that drive our profession forward as an indispensable component of effective governance,” said IIA President and CEO Richard Chambers. “Are there opportunities for improvement to ensure internal auditors are relevant today and tomorrow? We want to answer that question and more.” 