Compliance teams should expect more support from their organization’s internal audit functions. That is the clear message from the Institute of Internal Auditors (IIA), the global body of national affiliated internal audit institutes, which has just put into action its new Global Internal Audit Standards (GIAS).

Ruth Prickett graduated from Cambridge University with a BA hons in History and has specialized in business and finance journalism for the past 20 years. She was editor of Financial Management, the magazine...