The Institute of Internal Auditors Presents: All Things Internal Audit
In this episode, Liz Sandwith talks with Lauressa Nelson about the changes in The IIA's new Global Internal Audit Standards. They discuss how internal auditors can prepare for these changes, the challenges they may face, and practical strategies to ensure conformance by Jan. 9, 2025.
Guests
Liz Sandwith, CFIIA, managing partner, Sandwith Internal Audit Services and a former member of the International Internal Audit Standards Board
Host
Lauressa Nelson, senior manager, Professional Standards, The IIA
Key Points
- Introduction to the New Standards (00:00:02 - 00:00:23)
- Current State of Readiness (00:00:31 - 00:01:29)
- Challenges in Conformance (00:01:29 - 00:02:24)
- Strategies for Preparation (00:02:24 - 00:03:37)
- Behavioral Standards and Evidence (00:06:03 - 00:07:19)
- Purpose and Domain I (00:08:30 - 00:10:04)
- Governing the Internal Audit Function (Domain III) (00:11:36 - 00:13:17)
- Internal Audit Strategy (Domain IV) (00:17:44 - 00:19:02)
- Coordination and Reliance (Domain V) (00:27:12 - 00:28:41)
IIA Related Content
Interested in this topic? Find more articles and resources to support internal auditors conforming to the new standards below:
Ethically Mastering the Global Internal Audit Standards
Navigating the Global Internal Audi Standards
Check out the October issue of Internal Auditor magazine for Liz Sandwith’s article, “Ready to Conform,” packed with practical advice for meeting the new Standards by January 2025.
Visit The IIA's website or YouTube channel for related topics and more.
Resources Mentioned
- Two-way Mapping: 2017 IPPF Mandatory Elements to 2024 Global Internal Audit Standards (and Back)
- Conformance Readiness Assessment Tool
- Global Internal Audit Standards
- “Ready to Conform,” Internal Auditor, October 2024.