Developing The International Standards for the Professional Practice of Internal Auditing

Presentation to the INTOSAI PSC May 2014 Phil Tarling, CIA, CRMA, CMIIA Past Chairman of the IIA Board

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Agenda

 Development - Due Process - Standard-Setting Process - Operating Procedures - Administrative Support  Ensuring External Stakeholder Perspective www.globaliia.org

IIA STANDARDS DEVELOPMENT

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Due Process BOARD OF DIRECTORS

Chairman, member volunteer

IPPF OVERSIGHT COUNCIL (IPPF OC)

Chair, member volunteer VP Professional Practices, staff liaison

EXECUTIVE COMMITTEE

VC-Professional Guidance, member volunteer

Professional Guidance Advisory Council (PGAC)

VC – Professional Guidance (see above), Chair VP – Professional Guidance, staff liaison

IIASB

Chair, member volunteer Director Standards & Guidance, staff liaison www.globaliia.org

International Internal Audit Standards Board - IIASB

 Develops, issues, maintains, and promotes the

Standards

 14 members representing IA profession and its stakeholders  Cross-section of geographic areas & industries  Broad experience  Senior-level www.globaliia.org

Standard-Setting Process

 Developed and updated by IIASB  90-day exposure period distributed to members, stakeholders, and other professionals  Incorporates review of Global Ethics Committee to ensure compliance with IIA’s Code of Ethics www.globaliia.org

Standard-Setting Process

 Final approvals – IIASB and IPPF Oversight Council – Requires approval 2/3 membership for each – Substantive disagreement arbitrated by Global Board of Directors or designated committee  Reviewed every 3 years to remain current, relevant and timely www.globaliia.org

IIASB Operating Procedures

 5 Subcommittees based on topic - Chair and 3-4 members  Coordination and Communication 2 face-to-face meetings per year 2 quarterly web meetings with full board Separate subcommittee web meetings as required Regular communication via email www.globaliia.org

Administrative Support

 Designated staff liaison - Director, Standards and Guidance.

 Technical writers and editorial staff available www.globaliia.org

ENSURING EXTERNAL STAKEHOLDER PERSPECTIVE

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Engaging External Stakeholders

 Serve on the IIASB - INTOSAI - Association of Chartered Certified Accountants (ACCA)  90 Day Exposure Process  IPPF Oversight Council www.globaliia.org

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QUESTIONS