Global Internal Audit Standards (GIAS) - Overview and Contrast to 2017 International Professional Practices Framework (IPPF)
1.60 Credits
Member Price $109
Non-Member Price $139
Overview
In May 2023, the IIA released a draft of the new Global Internal Audit Standards. The intent was to provide more effective standards for Internal Audit globally.
The new Global Internal Audit Standards were released on January 9, 2024, and will become effective January 9, 2025. The previous version, the International Standards for the Professional Practice of Internal Auditing, released in 2017, remains approved for use during a one-year transition period. The Global Internal Audit Standards guide the worldwide professional practice of internal audit. They serve as a basis for evaluating and elevating the quality of the internal audit function. The Standards use 15 guiding principles with five separate domains that enable effective internal audit implementation and examples of evidence of conformance. The Global Standards are organized into five domains.
- Domain I: Purpose of Internal Auditing
- Domain II: Ethics and Professionalism
- Domain III: Governing the Internal Audit Function
- Domain IV: Managing the Internal Audit Function
- Domain V: Performing Internal Audit Service
Highlights
- Accounting
- Internal Controls
- Internal Audit Standards
Prerequisites
None
Designed For
Internal Auditors, auditors, accounting and finance professionals
Objectives
- Overview of proposed changes to the Standards
- Major themes in comment letters on Standards
- Mapping structure of the 2017 Standards to 2024 Standards
- Specific Comments and responses
Preparation
None
Leader(s):
Leader Bios
Lynn Fountain, Sole Proprietor
Lynn Fountain, CGMA, CRMA, MBA, has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.
Ms. Fountain has developed and delivered leading edge training sessions on the new COSO framework and has assisted companies in identifying risk gap analysis in their individual processes. She currently executes two highly recognized e-workshops for the Institute of Internal Auditors, one on Fraud and the second on Ethics. Both workshops have incorporate aspects of COSO 2013.
Ms. Fountain is in the process of authoring a publication for the IIA Research Foundation on aspects of fraud auditing. The publication is due out in 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas.
Non-Member Price $139
Member Price $109