The Institute of Internal Auditors (The IIA) has been awarded the 2024 Power of Associations Gold Award by the American Society of Association Executives (ASAE) for the launch of the new Global Internal Audit Standards™. The Standards were released in early January and will become effective in January of 2025.
The IIA was selected for the Power of Industry and Professional Advancement category, which recognizes associations that have made a positive and measurable contribution toward professional advancement within their industry.
The new Standards re-envisioned best practices and guidelines for the professional practice of internal auditing. Developing the new Standards required years of research and outreach to stakeholders globally. The draft issued for public comment received feedback from more than 1,600 survey respondents, producing nearly 19,000 comments, along with letters and meetings with hundreds of stakeholders. The Standards provide a comprehensive and accessible guide to internal audit principles, requirements, and considerations designed to optimize internal audit performance in all industries and sectors.
The launch of the Standards marked a key milestone in the evolution of the International Professional Practice Framework, a project that continues with the development of new Topical Requirements. The IIA is honored to receive this recognition and extends a heartfelt thanks to the International Internal Audit Standards Board, volunteer members, and staff who contributed to the launch.
To learn more about the new Standards and how to incorporate them before the effective date, visit theiia.org/NewStandards.