Global Internal Audit Standards project update July 2024
Existing Technical Guidance is now beginning to be reviewed. How to audit…. guidance has been prioritised given that we have been issuing guidance around the profession of internal audit specific to the new requirements of the Global Internal Audit Standards as per below. We plan to replace the existing guidance on the website as each piece is finalised over August and September.
New Technical Guidance focusing on the Global Internal Audit Standards 2024 is continuing and three pieces have been published:
Global Standards 2024 CAE support for Senior Management Guidance and Tool Kit (iia.org.uk)
Global Audit Standards 2024 Internal Audit Strategy Guidance and Tool Kit (iia.org.uk)
Global Audit Standards Webinar June 2024 Slides and Q&A
We also have two new pieces of guidance that we are working on – Training and Advice for Small Internal Audit Functions. Once the Quality Assessment Manual is published by Global IIA, we will also look to provide guidance around this.
The review of the Public Sector Internal Audit Standards is making good progress with a key milestone being reach in July as the IASB now turns its attention to the method of communicating its findings.
Events continue to be arranged on the new Global Standards. There are plans for sessions in August at the South West Regional virtual event, at the National Conference in October and at the Scottish Key event in November.
Global IIA has been focused on the International Conference which took place week of 15 July, but it continues to review its existing guidance to align to the new GIAS. The work on the Quality Assessment Manual is concluding with a plan to launch this in August / September.
We have also provided detailed feedback on the Topical Requirement: Cybersecurity raising concerns and sharing feedback from members as well as our views on how to improve this.
If you have an event or session where you would like us to talk through the key changes and challenges of GIAS or focus on a Guidance and Tool Kit that we have issued, or feedback on our guidance or ideas for any new topics then please let us know: webtechnical@iia.org.uk
