Governing the Internal Audit Department in line with GIAS - Beginner
Author: Lynn Fountain
| CPE Credit: |
2 hours for CPAs |
The concept of governance is often a challenging area for internal audit. For the first time, standards for the IA profession will include direction and responsibilities for the board. Domain III outlines several standards for the board that:
- Authorize the IA function.
- Ensure and safeguard its independence and positioning within the organization.
- Establishes the board’s responsibilities for overseeing the quality of the performance of both IA and the chief audit executive.
The new Standards emphasize that quality performance requires conformance to the Standards. Each standard within Domain III specifically identifies the responsibilities of the CAE and the board, as well as joint responsibilities.
Publication Date: June 2025
Designed For
Controllers, Accountants, Auditors, Finance and Operational Professionals Professionals
Topics Covered
- Principle 6 Authorized by the Board
- Essential Condition
- Considerations
- Standard 6.1 IA Mandate
- Standard 6.2 IA Charter
- Standard 6.3 Board and Senior Managment Support
- Principle 7 Positioned Independently
- Essential Conditions Board and Senior Management
- 7.2 Chief Audit Executive Qualifications
- Mapping of 2024 Global Standards to 2017 IPPF - Domain III Governance
Learning Objectives
- Explain Domain III – Governing the IA Function
- Explain how to implement Principle 6 – Authorized by the Board
- Explain Standard 6.1 IA Mandate
- Explain Standard 6.2 IA Charter
- Explain Standard 6.3 Board and Senior Management Support
- Explain how to implement Principle 7 – Positioned Independently
- Explain Standard 7.1 Organizational Independence
- Explain Standard 7.2 CAE Qualifications
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
