New IIA Global Internal Audit Standards: What you need to do in 2024
On Jan. 9, 2024, the Institute of Internal Auditors (IIA) released updated Global Internal Audit Standards (the Standards) that the association calls a ‘major milestone in a historic, multi-year project.’ Significant changes, including increased focus on how internal audit serves the public interest, clarifications to the role of the board in governing internal audit and new requirements for quality assurance and improvement programs, will have meaningful impacts on the internal audit profession.
If you’re wondering how these Standards might impact your organization—and what steps you need to take, right now, to prepare—we’ve got you covered. As a first step, Baker Tilly internal audit specialists recently hosted a 30-minute webinar to help organizations consider what they need to do over the next year before the Standards become effective in January 2025.
Baker Tilly’s internal audit specialists will continue to share insights throughout 2024 on the updated Standards, including:
- In-depth analysis of each of the five Domains
- Implementation tools for specific areas of interest
- Real life case studies of how internal audit functions have successfully embraced the Standards
- And more!
