International Standards adopted across public sectors in UK and Ireland
14 December 2012
Collaboration between the Institute, CIPFA and the Relevant Internal Audit Standard Setters has resulted in the first unified set of public sector internal audit standards (PSIAS) for the UK.
Separately, Ireland has also published new unified Standards.
The PSIAS are based on the mandatory elements of the IIA's International Professional Practices Framework and will apply across the UK in central and local government and the NHS. The PSIAS were subject to a formal UK wide consultation process during 2012, and they have been reviewed by the Internal Audit Standards Advisory Board (IASAB). The IASAB was formed in March 2012 to provide oversight and challenge for the development of the standards. The Board comprises representatives of internal audit for the Chartered Institute of Internal Auditors, The Chartered Institute of Public Finance and Accountancy (CIPFA), HM Treasury, Scottish Government, Welsh Government, the Department of Finance and Personnel Northern Ireland and the Department of Health. Collectively these organisations are the Relevant Internal Audit Standard Setters in central government and public services, with the exception of the IIA.
The PSIAS, which come into force on 1 April 2013, have been developed to create consistent standards for the practice of internal audit across the public sector and establish the basis for its quality assurance.
Commenting on the new standards, and the Institute's work with CIPFA, Institute chief Executive, Dr Ian Peters said, "Collaboration between the IIA in the UK and CIPFA demonstrates the commitment of both organisations to work together to develop the internal auditing profession in the public sector by strengthening its independence and objectivity, and raising standards through quality assurance and professional development. Organisations stand to gain from the consistent framework provided by the new Public Sector Internal Audit Standards which are based closely on our global standards, and other mandatory elements of our International Professional Practices Framework.