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■ ■■Performing direct tests of events and transactions. 12. Cosourcing means that an organization is supplementing its in-house internal audit function to some extent via the services of third-party vendors. Common situations in which an organization will cosource its internal audit function include circumstances in which the third-party vendor has spe-cialized audit knowledge and skills that the organization does not have in-house and circumstances in which the organization has insufficient in-house internal audit resources to fully complete its planned engagements.13. The IIA headquarters’ executive leadership team is headed by the president and CEO. Hundreds of volunteers, including The IIA’s Global Board of Directors, also provide IIA leadership. The 38-member Global Board of Directors oversees the affairs of The IIA. The board’s Executive Committee comprises the chairman of the board, the senior vice chairman, five vice chairmen, a secretary, and the two most recent former chairmen of the board. The board also includes the North American Board, which holds specific authority and oversight of North American activities, directors-at-large, ex-officio directors, institute directors, and The IIA president as an ex-officio member.14. The two categories of guidance included in the International Professional Practices Framework (IPPF) are mandatory guidance, which includes the Definition of Internal Auditing, the Code of Ethics, and the International Standards for the Professional Practice of Internal Auditing, and recommended guidance, which includes implementation guidance and supplemental guidance. 15. The Certified Internal Auditor (CIA) exam tests a candidate’s expertise in three parts: ■ ■■Internal Audit Basics.