BusinessPostCorner.com
No Result
View All Result
Saturday, May 24, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

IIA approves revised global internal audit standards

December 14, 2023
in Accounting
Reading Time: 3 mins read
A A
0
IIA approves revised global internal audit standards
ShareShareShareShareShare

The International Internal Audit Standards Board voted to approve a set of new Global Internal Audit Standards that are expected to be released in January.

The final standards from the Institute of Internal Auditors are scheduled to be released in English on Jan. 9, 2024, with translations into other languages to follow in the months ahead. An enhanced e-publication will provide enriched user options and a print edition is in development as well. The standards are scheduled to take effect in January 2025, 12 months after their release.

The approval of the final standards follows on the heels of a six-month review of the results of a public comment process and a subsequent revision of the exposed draft standards. The IIASB said Wednesday it analyzed and considered nearly 19,000 specific comments from 1,600 completed surveys, plus feedback received through letters from and meetings with stakeholders. The IIA and IIASB plan to release a disposition report next month, summarizing the themes of feedback and the IIASB’s decisions as reflected in the final version.

On top of the final standards and disposition report, the IIA will provide practitioners with a document mapping the 2017 International Standards for the Professional Practice of Internal Auditing and the 2024 Global Internal Audit Standards.

The IIA also plans to host a webinar on Jan. 24, 2024 to help internal audit practitioners and stakeholders become familiar with the new standards and their impact on the internal audit profession. Attendees will hear from IIASB representatives about the structure and content of the final standards and learn about the primary changes. The same webinar will be broadcast three times, with a live Q&A session at the end of each, to accommodate attendees in various time zones globally.

Richard Chambers, former president and CEO of the Institute of Internal Auditors and currently a senior internal audit advisor at AuditBoard, discussed the new Global Internal Audit Standards recently with Accounting Today. “That’s going to influence the key priorities for internal audit next year,” he said. “Around the first of January, you’re going to have a year to get compliant, so whatever the new requirements are in those standards, that’s going to be on the internal auditor’s shoulders, along with all of these other compliance requirements coming out of regulatory and legislative this year. I think 2024 is setting up to be the year of compliance risk.”

The release of the new standards represents a milestone in the IPPF Evolution, a project that kicked off in 2020 with the goal of increasing the relevance and responsiveness of the IIA’s International Professional Practices Framework to current challenges in the profession. The IPPF Evolution continues next year with the development of topical requirements, which have to be applied when weighing specific audit topics or engagements designated within an organization’s audit plan. Updated IIA products and services — including the Quality Assessment Manual and external quality assessments, instructor-led and on-demand training sessions, and certifications — are scheduled to be released from 2024 through 2026. Visit https://www.theiia.org/en/standards/ippf-evolution/ for more information.

Credit: Source link

ShareTweetSendPinShare
Previous Post

Driverless car firm Cruise to cut 900 jobs

Next Post

Sikich to acquire CLA’s federal government practice

Next Post
Sikich to acquire CLA’s federal government practice

Sikich to acquire CLA's federal government practice

Trump says tax bill ‘close’ as holdouts threaten to sink it

Trump says tax bill ‘close’ as holdouts threaten to sink it

May 21, 2025
Ethereum Price Prediction: ETH Hits ,550 Alongside Bitcoin Surge — Is Their Price Connection Getting Stronger?

Ethereum Price Prediction: ETH Hits $2,550 Alongside Bitcoin Surge — Is Their Price Connection Getting Stronger?

May 24, 2025
Struggling DNA testing firm 23andMe to be bought for 6m

Struggling DNA testing firm 23andMe to be bought for $256m

May 19, 2025
Trump administration bars Harvard from enrolling international students

Trump administration bars Harvard from enrolling international students

May 22, 2025
Scott Bessent says tariff uncertainty is a tactic — otherwise countries ‘would play us in the negotiations’

Scott Bessent says tariff uncertainty is a tactic — otherwise countries ‘would play us in the negotiations’

May 18, 2025
How are investment strategies changing?

How are investment strategies changing?

May 22, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

There’s a ‘buyer’s strike’ on U.S. assets as foreign investors can’t stomach huge deficits anymore, analyst warns

There’s a ‘buyer’s strike’ on U.S. assets as foreign investors can’t stomach huge deficits anymore, analyst warns

May 24, 2025
Snoop Dogg says ‘adversity is like the gym for your soul’ and offers 3 pieces of advice for USC business school grads

Snoop Dogg says ‘adversity is like the gym for your soul’ and offers 3 pieces of advice for USC business school grads

May 24, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!