In March, the Institute of Internal Auditors released a draft version of an overhaul of its professional practice standards and framework that intend to guide the behavior and actions of internal auditors as they carry out their work. I encourage all internal auditors to read the newly released draft version of the Standards and provide your comments to the IIA before the exposure period ends late next month.
First, hearty and heartfelt congratulations are in order to both the IIA’s International Standards Board and the dedicated IIA staff for such a heavy lift in completely reworking the entire International Professional Practice Framework (IPPF) and for taking on the most expansive revision to the Standards that’s ever been attempted. More than two years of effort has resulted in a major re-envisioning of this important body of standards and guidance. What the IIA has labelled an “evolution” is arguably an even more aggressive change than that.
While the IIA has vigorously encouraged feedback, receiving critical reaction is not always easy to take, and digesting the volume of commentary is a daunting task. I know from first-hand experience. Participation on the Standards Board is a voluntary role, and the endless hours of discussion and debate these dedicated professionals have endured—not to mention the time and energy they will continue to expend—is a thankless task. So, on behalf of the thousands of practitioners around the world, thank you!