The Institute of Internal Auditors (IIA) released the new Global Internal Audit Standards™ on January 9, 2024, after a multiyear process through which the International Internal Audit Standards Board researched and gained input from stakeholders.

The new Standards are structured into five domains:

1. Purpose of Internal Auditing: Defines the mission and objectives of internal auditing.
2. Ethics and Professionalism: Outlines the ethical principles and professional conduct expected of internal auditors.
3. Governing the Internal Audit Function: Focuses on the relationship between the chief audit executive (CAE), the board, and senior management, emphasizing the importance of a well-defined mandate, independence, and oversight.
4. Managing the Internal Audit Function: Addresses the operational aspects, including strategy development, resource management, and performance measurement.
5. Performing Internal Audit Services: Provides guidance on executing audit engagements effectively.

This course will guide you through the significant updates and their impact on the auditing profession, offering in-depth insights into key changes, including risk assessment processes, audit planning, and reporting standards. Through a blend of expert presentations, practical case studies, and interactive exercises, you’ll gain the tools and knowledge needed to seamlessly integrate these standards into your practice. Whether you’re looking to refine your auditing approach or ensure compliance with the latest industry standards, this course is your gateway to mastering the essentials of the new IIA standards and enhancing the quality and effectiveness of your internal audit function.