The 9 January 2025 deadline for the Global Internal Audit Standards is fast approaching—are you ready? If your team needs support to meet the requirements and avoid reporting non-conformance under Standards 8.3 and 12.1, Andile is here to help. Reach out to Liesl at liesl@andilesolutions.com or learn more here: https://lnkd.in/dD5DNy-7. Let’s get you back on track!
Are you ready to conform with the Global Internal Audit Standards from 9 January 2025? At least 120 internal audit professionals holding director-level positions or higher (or 1/3 of respondents to the survey), in diverse organisations and industries across the United States, United Kingdom, and Ireland indicated in The Audit Board report published in November 2024 and titled "2025 Focus on the Future: Inflection Point for Transformation at Mid-Decade" that they would miss the deadline. What does this mean? These CAEs must communicate the results of the internal quality assessment to the Audit Committee and senior management at least annually (Standard 8.3). The internal quality assessment (Standard 12.1) assesses the function's conformance with the Global Internal Audit Standards. If the function has not implemented the new Standards on 9 January the CAE would have to report this when reporting in terms of Standard 8.3. If you need assistance to conform with the new Standards, do not hesitate to contact me on liesl@andilesolutions.com. There is nothing like the deep technical expertise you receive from Andile (https://lnkd.in/dD5DNy-7) to get you back on track.