Global Internal Audit Standards project update May 2024
As promised here is an update for you on all things Global Standards for May 2024!
Chartered IIA Project Workstreams
The Certified Internal Auditor (CIA) syllabus is being updated by Global IIA however they have advised that this will not be released now until September 2024 at the latest. There has been no movement around the date the updated exams will come into effect which is May 2025.
Events and Forums continue to support members and the profession as well, by delivering sessions on the Global Standards. The most recent of these was the Irish Conference, but we also have a virtual event planned for 25 June 2024, a session at the IIA Midlands Conference on the 5th July and also the monthly drop in clinics. We are also speaking at three other sector specific on-line events during May. If you have any requests for this then please let us know.
Training is also going to be looked at in the next couple of months as to what we can provide to support the competency requirements in the Global Standards – so more on this soon.
Existing Technical Guidance plan of priorities and approach to this is now starting to come together. There will be publications which will be updated over the course of May, June and July and we will list these in the monthly Blog to help you identify them.
New Resources
New Technical Guidance focusing on the Global Internal Audit Standards 2024 we are making good progress. We issued the Self-Assessment Checklist in our Resources Section as planned and the following are now coming together and will be published in May.
- Internal Audit Strategy Template with supporting guidance
- Audit Committee ‘To Do’ List in support of the guidance issued by Global IIA on Domain III
We have also been listening to everyone as we come to events and receive questions about what else is needed and we are currently considering the following:
- Senior Management ‘TO DO’ list in terms of their requirements in the Standards
- Insight and Foresight and what this looks like in practical terms
- Audit Committee Terms of Reference Template for the new Global Standards
- Annual Governance Statement for the new Global Standards
- Public Interest and what this looks like in practical terms
- Co-ordination and Reliance on other assurance providers and in particular assurance mapping
- Performance measures for internal audit – examples and how they support the purpose and strategy of internal audit
- Stakeholder communication plan
- Giving opinions
If you have any ideas or thoughts on the above list as to what would be most helpful then please email webtechnical@iia.org.uk
Global IIA
Global IIA has also been busy with the following now published and more on the way:
- Model Internal Audit Charter and Guidance for the Public Sector
- Topical Requirements (theiia.org)
Remember - to access Global’s member only content such as the model internal audit charter you will need to use your Global IIA membership log on details and not your Chartered IIA
If you have any questions or want to be invited to the monthly drop in clinic then please contact us through our email webtechnical@iia.org.uk and we will get back to you as quickly as we can.
