The International Auditing Standards Board
A standard is a professional document promulgated by The International Auditing Standards Board (The IIA’s internal committee responsible for developing standards).
Internal audit is carried out in different legal and cultural environments as well as in organizations of various subject, size, complexity and structure. It can also be exercised by audit professionals, internal or external to the organization.
As these differences can influence the practice of internal auditing in each environment, it is essential to comply with the IIA’s International Standards for the Professional Practice of Internal Auditing (hereinafter “the Standards”) so that Internal auditors and Internal audit fulfill their responsibilities.
When laws or regulations prevent internal auditors or internal auditors from complying with certain provisions of the Standards, it is necessary to comply with the other provisions and to carry out appropriate communication.
If the Standards are used in conjunction with provisions of other reference bodies, internal audit communications may, where appropriate, cite the use of other standards. If there are contradictions between the Standards and these other provisions, internal auditors and internal auditors must comply with the Standards and may comply with the other provisions if they are more demanding.
The purpose of the Standards is:
to define the fundamental principles of the practice of internal audit;
to provide a reference framework for the realization and promotion of a wide scope of value-added internal audit intervention;
establish the criteria for assessing the functioning of internal audit;
to promote the improvement of organizational processes and operations.
The Standards are binding principles made up of :
statements on the fundamental conditions for the professional practice of internal auditing and for the evaluation of its performance. They are international and applicable both at the service level and at the individual level.
interpretations that clarify terms and concepts used in statements.
The Standards consist of Qualification Standards, Functional Standards and Implementation Standards. The Qualification Standards set out the characteristics that organizations and individuals performing internal audit assignments must exhibit. The Operating Standards describe the nature of internal audit assignments and define quality criteria making it possible to measure the performance of the services provided. Qualification Standards and Performance Standards apply to all audit services. The Implementation Standards specify the Qualification Standards and the Operational Standards by indicating the requirements applicable in the insurance (A) or consulting (C) activities.