They address approaches methodologies and factors for an internal audit

They address approaches methodologies and factors for

This preview shows page 36 - 39 out of 50 pages.

They address approaches, methodologies, and factors for an internal audit function to consider, but are not intended to provide detailed processes and procedures for internal audit functions to follow. Position Papers provide guidance on issues that extend beyond the specifics of how the CAE, internal audit function, and individual internal auditor should conduct their work. Position papers currently address the role of internal auditing in the organization’s enterprise risk management system and how the organization sources the internal audit function. Future position papers may address significant governance, risk management, and control issues with the intent of clarifying the issues and enhancing internal auditors’ and stakeholders’ understanding of the issues. Practice Guides provide detailed guidance on internal audit tools and techniques. Practice Guides are currently composed of the Global Technology Audit Guides (GTAG) and the Guide to the Assessment of IT Risk (GAIT) series, both of which were developed by The IIA’s Advanced Technology Committee.
Exhibit 2-8 IPPF Guidance Development Process The IPPF is not intended to be a static body of guidance. It will continue to evolve as the profession responds to a continuously changing environment. The process for developing the mandatory and strongly recommended guidance included in the IPPF is summarized in Exhibit 2-8. The Professional Practices Advisory Council is responsible for coordinating the initiation, development, issuance, and maintenance of the authoritative guidance that makes up the IPPF. Each year, the Professional Practices Advisory Council develops a work plan for the next year as well as a tentative plan for the following two years that lays out the work for the Ethics Committee, the Internal Audit Standards Board, and the Professional Issues Committee. The Council also coordinates the review of all existing guidance on a three-year cycle. Internal Auditing: Assurance and Consulting Services, 2 nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, FL 32701 USA 37
Internal Auditing: Assurance and Consulting Services, 2 nd Edition. © 2009 by The Institute of Internal Auditors Research Foundation, 247 Maitland Avenue, Altamonte Springs, FL 32701 USA 38 IPPF Guidance Development Process Independent Guidance Oversight Committee To improve transparency and enhance the trust that legislators, regulators, and other users of internal audit services have in the profession's authoritative guidance, The IIA's 2006 Vision for the Future Task Force recommended the establishment of an independent Guidance Oversight Committee. The Guidance Oversight Committee represents the interests of stakeholders outside the internal audit profession and provides assurance that The IIA follows its stated protocol in developing, issuing, and maintaining the IPPF .

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