To help internal auditors stay on track with the most timely and most significant risks, internal auditors have some new professional practice standards to follow beginning Jan. 1, 2013.
The Institute of Internal Auditors has adopted nearly 20 changes to its International Professional Practices Framework to improve the practice of internal audit globally. The most significant changes include clarified responsibilities for internal auditors, the chief audit executive, and the internal audit activity that is necessary to conform to the standards. The revisions also increase the auditor’s focus on quality assurance and improvement program requirements, clarifying ways that compliance with the requirements can be achieved.
