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Global Internal Audit Standards Become Effective Jan. 9, 2025

Global Internal Audit Standards Become Effective Jan. 9, 2025

The International Internal Audit Standards Board (IIASB) released the new Global Internal Audit Standards on Jan. 9, 2024, to take effect on Jan. 9, 2025. The Standards apply to internal audit functions and anyone who provides internal audit services, including external service providers. Early adoption of the new standards is recommended, but providers have a one-year transition period to adhere to the new standards.  

During the transition period, the 2017 International Standards for the Professional Practice of Internal Auditing will remain in place. However, providers should be aware of some distinct changes from the 2017 International Standards and the newly enacted Global Internal Audit Standards. 

Differences between the 2017 International Standards and the newly adopted Global Internal Audit Standards

The new standards include some of the same elements as the previous standards, as well as newly added and restructured criteria.



Mission of Internal Audit

Purpose of Internal Auditing

Definition of Internal Auditing

Ethics and Professionalism
     Principles 1 – 5

Core Principles

Governing the Internal Audit Function
     Principles 6 – 8

Code of Ethics

Managing the Internal Audit Function
     Principles 9 – 12


Performing Internal Audit Services
     Principles 13 – 15

Implementation Guidance

Topical Requirements


  • The new standards include versions of 2017’s five mandatory elements, one of the nonmandatory elements, and 15 new guiding principles.
  • Topical Requirements are also a new mandatory element still being created and designed to enhance the consistency and quality of internal audit services related to specific subjects.
  • “Attribute” and “Performance” categories are no longer separated
    • Attribute standards addressed the attributes of organizations and individuals performing internal audits.
    • Performance standards described the nature of internal auditing and provided criteria against which internal audit performance could be measured.
  • The numbering system and order of standards have changed
  • Global Guidance, previously referenced as Supplemental Guidance, including clarifications and best practices, will continue to be a recommended (nonmandatory) element. Detailed approaches, step-by-step processes, and examples for conducting internal audit activities over major subjects are provided in the form of Global Practice Guides and Global Technology Audit Guides in the following areas:
    • Assurance and advisory services
    • Engagement planning, performance, and communication
    • Financial services
    • Fraud and other pervasive risks
    • Strategy and management of the internal audit function
    • Public sector
    • Sustainability

Application in the public sector

The new Global Standards acknowledge that the political environment in the public sector consistently draws questions and concerns on how the internal audit function operates in this space. As full-time government advisors, we understand that governmental entities do not operate independently but as an increasingly complex web of local, state, and federal relationships. We know how these relationships work, what they mean at every level, and how every public organization’s focus on resource management is critical to success.

Our experience in the public sector will allow us to help your organization ensure conformance with and application of the new Standards over key areas to include, but not limited to:

  • Ensuring compliance with laws and/or regulations
  • Evaluating governance and organizational structure
  • Assessing whether an organization’s performance aligns with its strategic objectives and goals
  • Identifying opportunities to improve the efficiency and effectiveness of government processes and programs
  • Determining whether public resources are adequately safeguarded and used appropriately

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