GIAS - Domain IV Part 2 - Global Internal Audit Standards

Field: Auditing | Delivery Method: Self Study | CPE Hours: 2.0

This segment dedicated to the new Global Internal Audit Standards will review the remaining principles in Domain IV (Principle 9 of Domain IV was reviewed in a previous segment). The remaining principles are:

  • Principle 10 – Manage Resources
  • Principle 11 – Communicate Effectively
  • Principle 12 – Enhance Quality

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
  • Doman II: Ethics and Professionalism.
  • Domain III: Governing the Internal Audit Function

Lesson Objectives
  • Examine Principle 10 – Manage Resources
    • Discern Standard 10.1 – Financial Resource Management
    • Discern Standard 10.2 - Human Resource Management
    • Discern Standard 10.3 – Technological resource management.
  • Examine Principle 11 – Communicate Effectively
    • Discern Standard 11.1 Building Relationships and communicating with stakeholders.
    • Discern Standard 11.2 Effective Communication
    • Discern Standard 11.3 Communicating Results
    • Discern Standard 11.4 Errors and Omissions
    • Discern Standard 11.5 Communicating and the Acceptance of Risks
  • Examine Principle 12 – Enhance Quality
    • Discern Standard 12.1 Internal Quality Assessment
    • Discern Standard 12.2 Performance Measurement
    • Discern Standard 12.3 Oversee and Improve Engagement Performance


Field: Auditing
Delivery Method: Self-Study
CPE: 2.0
Format: Video


Your Instructor


Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author


Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.


As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.


Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma


Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  


Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.


https://www.lynnfountain.net/


Course Curriculum


  Global Internal Audit Standards Domain IV - Part 2 - Segment 1
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  Global Internal Audit Standards Domain IV - Part 2 - Segment 2
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  Global Internal Audit Standards Domain IV - Part 2 - Segment 3
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  Global Internal Audit Standards Domain IV - Part 2 - Power Point and Glossary
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