IN THIS ISSUE

Fall 2012

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Latest Updates from The IIA’s Standards and Guidance

We encourage you to share this information with your members via monthly events, newsletters, and on your chapter website.

Standards Exposure – A Success Because Of Your Chapter

Hundreds of practitioners around the world responded to the proposed changes to The IIA’s International Standards for the Professional Practice of Internal Auditing (Standards) available for comment earlier this year. Without every chapter’s support, we would not have achieved the response we did. We thank you for your assistance!

The International Internal Audit Standards Board (IIASB) reviewed and analyzed the results and comments from the public exposure and planned to finalize the Standards revisions in July 2012. The IPPF Oversight Council, an independent body, will review the rigor of the Standards-setting due process. Subject to the Oversight Council’s review, the target timing to release the final revised Standards is approximately October 2012. The expected effective date for implementation of the revisions is January 1, 2013

Contact iia-exposure@theiia.org for further information.
 

IIA Responds to Regulators

10th Anniversary of Sarbanes-Oxley Act Prompts IIA Statement to U.S. Congress

Ten years after the landmark legislation was passed, The Institute of Internal Auditors (IIA) has weighed in on the impact of the U.S. Sarbanes-Oxley Act as part of a hearing held recently by the U.S. House of Representatives. The Committee on Financial Services Subcommittee on Capital Markets sponsored the hearing titled, “The 10th Anniversary of the Sarbanes-Oxley Act,” for which The IIA submitted written testimony providing Congress perspectives on the importance of strong corporate governance, risk management, and internal controls as enhanced by Sarbanes-Oxley as it relates to financial reporting. Learn more.
 

Proposed Change to Definition of "Engagement Team"

The IIA recently responded to the International Federation of Accountants’ (IFAC’s) exposure draft regarding a Proposed Change to the Definition of “Engagement Team,” developed by IFAC’s International Ethics Standards Board for Accountants (IESBA). Learn more .
 

Professional Guidance Released Sets Record

This past summer, The IIA released over eight pieces of new and revised guidance. We encourage you to share these releases with your members. Access to this guidance is a member-only benefit.

New GTAGs Released:

GTAG 7: IT Outsourcing, 2nd Edition
GTAG 17: Auditing IT Governance

New Public Sector Supplemental Guidance Released:

The IIA's International Standards for the Professional Practice Of Internal Auditing/Government Accountability Office Government Audit Standards (GAGAS), A Comparison, 2nd Edition
Optimizing Public Sector Audit Activities

New Practice Guides Released:

Auditing Privacy Risks, 2nd Edition
Integrated Auditing
Developing The Internal Audit Strategic Plan
Evaluating Ethics-related Programs and Activities
 

Guidance Webinars

The IIA offers professional development and continuing professional education (CPE) opportunities through complimentary webinars that cover recent guidance releases. These webinars are presented by the authors to assist your members with implementation and answer questions. Share these educational opportunities with your members.

Dates are subject to change. Please check the webinar calendar for the latest information.