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IIA Beefs Up Standards, Resources for Internal Auditors

Tammy Whitehouse | November 12, 2010

The Institute of Internal Auditors is giving internal auditors some fresh tools to work with in the coming year, with new professional standards that take effect in 2011 and a new Web portal designed specifically with chief audit executives in mind.

The IIA finalized 26 revisions to its International Standards for the Professional Practice of Internal Auditing, meant to assure the standards are keeping pace with legislative and business developments that may impact the internal auditing profession. The update is a triennial exercise to help practitioners better serve their stakeholders and interpret the guidance, the IIA said.

The changes include three brand new standards, various revisions to 15 existing standards and the deletion of two obsolete or irrelevant standards. The IIA said the most significant changes include those related to internal auditors expressing opinions and a new...

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