The Institute of Internal Auditors is looking for feedback on some proposed changes to make internal audit standards clearer, more understandable, and more consistent with current practices in internal auditing.
The IIA’s Internal Audit Standards Board has proposed a number of changes that are somewhat routine, but several others that would make more substantive changes in internal auditing standards, said Lily Bi, director of standards and guidance for the IIA. Most notably, the proposed new standards would state a more explicit requirement for internal auditors to provide audit opinions when required by corporate boards, and they would more explicitly state that organizations are responsible for the work of external service providers.
