Implications About the Proposed Changes to Internal Audit Standards

The Institute of Internal Auditors (IIA) has proposed changes to the International Standards for the Professional Practice of Internal Auditing (Standards) which will become Global Internal Audit Standards. This represents a significant change to how internal audit is performed following IIA standards.

While this is an exposure period, it is anticipated that these standards will be released officially before the end of 2023, so now is the time to start understanding how you will need to modify how you audit, and understand the implications and unintended consequences these changes will have on how you do your job, and how you interact with stakeholders.

We've gathered a group of seasoned internal audit executives to discuss:

• An overview of the proposed changes.
• Is this a framework or standards?
• What stakeholder involvement is required.
• The unintended consequences these changes will have on the internal audit profession.
• The aspirational aspect of the changes.
• Challenges for smaller audit shops to conform.
• Are the changes principle or rule based in nature?

Panelists:

• Hal Garyn - President, Audit Executive Services and former IIA staff executive responsible for the IPPF
• Rob Stingle - Head of Audit, Thrivent Financial
• Paul Smith - SVP Head of Global Audit, Reinsurance Group of America
• Rob Berry - That Audit Guy
• Jason Mefford - CEO, cRisk Academy

This is a discussion every internal auditor needs to hear, and it's a panel discussion that is different, insightful and more practical than you will find anywhere else.