Transcript IPPF Enhancement Exposure Survey Results Presentation

IPPF Enhancement
Exposure
Survey Results
Survey Closed
November 3, 2014
We Received Responses From Across The Globe
Thank You
for Sharing
Your Views
Angola
Argentina
Armenia
Australia
Austria
Bahrain
Bangladesh
Barbados
Belgium
Bolivia
Botswana
Brazil
Bulgaria
Cameroon
Canada
Chile
China
Colombia
Congo, Democratic Republic of
Cote d'Ivoire (Ivory Coast)
Croatia
Cyprus
Czech Republic
Dominican Republic
Ecuador
Egypt
El Salvador
Estonia
European Union
Finland
France
Georgia
Germany
Ghana
Grand
Greece
Guinea
Hong Kong
India
Indonesia
Ireland
Italy
Jamaica
Japan
Kenya
Kuwait
Lebanon
Luxembourg
Macedonia
Malawi
Malaysia
Mauritius
Mexico
Moldova
Morocco
Netherlands
New Zealand
Norway
Oman
Pakistan
Palestine
Papua New Guinea
Peru
Philippines
Poland
Portugal
Qatar
Reunion
Romania
Russia
Saudi Arabia
Serbia
Singapore
Slovenia
South Africa
Spain
Sri Lanka
Sweden
Switzerland
Tanzania, United Republic of
Togo
Tunisia
Turkey
Uganda
Ukraine
United Arab Emirates
United Kingdom
United States
Venezuela
Zimbabwe
The Exposure
ALTAMONTE SPRINGS, Fla. (Aug. 4, 2014) — The Institute of Internal
Auditors (IIA) announced today proposed enhancements to the International
Professional Practices Framework (IPPF) and a 90-day exposure period
amid heightened legislative, regulatory and market-driven demands on the
internal audit profession.
The IPPF Relook Exposure
Aug. 4–Nov. 3, 2014
Final Exposure Results
Metrics

9,000 + Video views
 16,400 + Web Page Visits
 6,600 + Exposure Draft
Downloads
 8 Exposure Draft and Survey
Translations*
*Arabic, Chinese, French, German, Italian, Japanese, Portuguese, Spanish
The IPPF Relook Exposure
Aug. 4–Nov. 3, 2014
Final Exposure Results
Metrics

845 Survey Responses
 4,000 Individual Survey
Comments
 47 Separate Comment Letters
(280 pages)
Exposure Survey Results
Details
Summary of the Elements
of the Proposed Revised IPPF

85% of respondents
support or completely
support the changes
regarding the IPPF as
detailed.

Mission of Internal Auditing
Expand the IPPF to include a mission statement to support the internal
audit profession. The Mission of Internal Auditing as was exposed:
“To enhance and protect organizational
value by providing stakeholders with riskbased, objective and reliable assurance,
advice and insight.”
Mission of Internal Auditing


88% of respondents
support or completely
support the additional of
a Mission of Internal
Auditing to the IPPF.
80% of respondents believed
or strongly believed that the
Mission correctly captured
what internal audit aspires to
accomplish.


“To enhance and protect organizational
value by providing stakeholders with riskbased, objective and reliable assurance,
advice and insight.”
Core Principles for the Professional Practice of
Internal Auditing
Add principles to the IPPF that describe internal audit effectiveness and
support the principles-based Standards and Code of Ethics.
1. Demonstrates uncompromised integrity.
2. Displays objectivity in mindset and
approach.
3. Demonstrates commitment to
competence.
4. Is appropriately positioned within the
organization with sufficient organizational
authority.
5. Aligns strategically with the aims and
goals of the enterprise.
6. Has adequate resources to effectively
address significant risks.
7. Demonstrates quality and continuous
improvement.
8. Achieves efficiency and effectiveness in
delivery.
9. Communicates effectively.
10. Provides reliable assurance to those
charged with governance.
11. Is insightful, proactive, and future-focused.
12. Promotes positive change.
Core Principles for the Professional
Practice of Internal Auditing


89% of respondents support or
completely support adding Core
Principles for the Professional Practice
of Internal Auditing as an element of the
IPPF.
79% of respondents support or
strongly support the view that all
Principles must be present for an
internal audit function to be
considered effective.


1. Demonstrates uncompromised integrity.
2. Displays objectivity in mindset and
approach.
3. Demonstrates commitment to
competence.
4. Is appropriately positioned within the
organization with sufficient organizational
authority.
5. Aligns strategically with the aims and
goals of the enterprise.
6. Has adequate resources to effectively
address significant risks.
7. Demonstrates quality and continuous
improvement.
8. Achieves efficiency and effectiveness in
delivery.
9. Communicates effectively.
10. Provides reliable assurance to those
charged with governance.
11. Is insightful, proactive, and future-focused.
12. Promotes positive change.
Implementation Guidance & Supplemental
Guidance
Restructuring of the current guidance elements of the IPPF:
• Practice Advisories to Implementation Guidance
• Practice Guides to Supplemental Guidance


86% of respondents
support or completely
support the restructure
of “Practice Advisories”
to “Implementation
Guidance” as part of the
framework.
83% of respondents
support or completely
support the restructure
of “Practice Guides” to
“Supplemental
Guidance” as part of the
framework.


Addressing Emerging Issues
Introduce processes to develop and promulgate emerging issues
guidance in a timely manner.

84% of respondents
support or completely
support the introduction
of a new IPPF
element to address
emerging issues.

Position Papers
Delete “Position Papers” as a guidance element of the IPPF.

64% of respondents
support or completely
support the deletion of
“Position Papers” as an
element of the IPPF.

Required & Recommended
Modify the classification of “Mandatory” and “Strongly Recommended”
in the existing IPPF elements to “Required” and “Recommended,”
respectively.

76% of respondents
support or completely
support the revision of
the words “Mandatory”
and “Strongly
Recommended” to
“Required” and
“Recommended”.

If you have other matters you wish to
communicate regarding these
recommendations and this exposure draft
process, please send them to:
The Institute of Internal Auditors,
Global Headquarters
ATTN: Standards and Guidance
[email protected]