Irene Kua’s Post

#CPDforCIA The Institute of Internal Auditors -IIA USA is the standards-setting & guidance-producing Global body of the Internal Audit profession. The new Global Internal Audit Standards, released January 9, 2024 by IIA, will become effective on January 9, 2025. The Standards guide the worldwide professional practice of internal auditing and serve as a basis for evaluating and elevating the quality of the internal audit function. At the heart of the Standards are 15 guiding principles that enable effective internal auditing. The Standards are set according to a due process followed by the International Internal Audit Standards Board and overseen by the International Professional Practice Framework (IPPF) Oversight Council. Each principle is supported by standards that contain requirements, considerations for implementation, and examples of evidence of conformance. Together, these elements help internal auditors achieve the principles and fulfill the Purpose of Internal Auditing and also these new standards will help to maintain uniformity across the profession/ industry. #IIA #IIAstandards #CPDforCIA

The Global Internal Standards (GIAS) (which is the name of the new standards after the update) were released on January 9, 2024 became effective on January 9, 2025. Therefore, internal audit departments must start adopting these standards from now and planning for their implementation. Standards are an essential reference for the professional practice of internal audit activity and serve as a basis for evaluating and raising the quality of the profession. The standards include 15 basic guidelines that enable internal audit to achieve its objectives. These standards are developed according to a rigorous process supervised by the International Standards Board on Internal Auditing (IIASB) and under the supervision of the Supervisory Board of the International Framework for Professional Practices (IPPF ) to start serious preparation for their application by the beginning of 2025..

Next month on January 9, The IIA’s new Global Internal Audit Standards™ will become effective for quality assessments. These visionary and dynamic standards are designed to set up internal auditors for success in an ever-changing business environment. I look forward to celebrating this milestone with you, and invite you to learn more here: https://lnkd.in/gfM83cQn #GlobalStandards #TheIIA #InternalAudit

Happy Morning Everyone, The Institute of Internal Auditors (IIA) had released new Global Internal Audit Standards on 9th January 2024 and it becomes effective from today 9th January 2025. Internal audit functions should start adopting the Standards now. The Standards guide the worldwide professional practice of internal auditing and serve as a basis for evaluating and elevating the quality of the internal audit function. At the heart of the Standards are 15 guiding principles that enable effective internal auditing. To access this standard please click on the link below or visit the IIA website. Happy Learning and good day Soneel https://lnkd.in/dFVUCbKc

International Professional Practices Framework (IPPF) Standards Categories. 1. Attribute Standards: Guides on attributes of organizations and individuals performing Internal Audit Services. 2. Performance Standards: Describe the nature of Internal Auditing and provide a quality criteria against which performance of Internal Audit services can be measured.

New #ManagementMonday session announced. Essentials of effective auditing practices for maintaining compliance & enhancing the quality of course services. Support self-assurance with effective internal auditing activities. https://lnkd.in/gn-by8jZ

Attention Internal Auditors! "Implementing an Internal Audit Strategic Plan" In January 2024, the International Internal Audit Standards Board released the new Global Internal Audit Standards™, which replaced the International Standards for the Professional Practice of Internal Auditing, issued as part of the 2017 International Professional Practices Framework®. The new Standards focus on managing the internal audit function’s performance as part of conformance with the standards under Principle 8, Overseen by the Board, and Principle 12, Enhance Quality. The 2024 Standards also require the CAE to develop and implement a strategy for the internal audit function. As part of the evaluation of the performance aspect of a department during a quality assessment, a strong strategic plan is a key element. #internalaudit #iia #internalauditors #quality #strategicplan

The IIA Global Internal Audit Standards for the Professional Practice of Internal Auditing have changed. This is good news for IIA members worldwide, but it will require some attention and adaptation to meet the new requirements. Need an overview? Start here - this article by Liz Sandwith CFIIA covers: ✅ What is the new IIA Standards structure? ✅ What are some of the changes to the glossary? ✅ How does this impact the profession? 🚨 And, 2024 Global Internal Audit Standards FAQs #TheIIA #IIAStandards #InternalAudit

The IIA Global Internal Audit Standards for the Professional Practice of Internal Auditing have changed. This is good news for IIA members worldwide, but it will require some attention and adaptation to meet the new requirements. Need an overview? Start here - this article by Liz Sandwith CFIIA covers: ✅ What is the new IIA Standards structure? ✅ What are some of the changes to the glossary? ✅ How does this impact the profession? 🚨 And, 2024 Global Internal Audit Standards FAQs #TheIIA #IIAStandards #InternalAudit

Not sure where to begin with your internal and supplier audits? Have our experienced team of auditors help you figure it all out! Secure your spot on our schedule! Contact us today at audits@cannonqg.com to talk about your audit plan. #QMS #qualitysolutions #SupplierAudit