Auditors, are we ready for the 2024 IPPF?

Auditors, are we ready for the 2024 IPPF?

Mercy Omundo Mercy Omundo

Mercy Omundo

Internal audit leader. CIA, CISA, CIA-QA

发布日期: 2024年11月17日
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As of January 9, 2025, the new internal audit standards will be taking effect, bringing enhancements that aim to improve the effectiveness and efficiency of internal audit functions. The transition from the old standards to the new framework requires an understanding of how the two sets align. Key changes include a stronger emphasis on risk management, enhanced stakeholder engagement, and my favorite- professional courage. Some people have argued that there is nothing really new in the standards its just a shuffling of the old. There is some truth to that, but the new standards also give enhanced expectation of what we do especially in provision of insights and foresight to business. Below is a summary of how the two align.


Image courtesy of the IIA

The Mandatory and Implementation guidance are mapped to the global internal audit standards and topical requirements while the supplemental guidance are mapped to the global guidance.The Global internal audit standards cover all the original mandatory guidance within five domains. The five domains have 15 principles and 52 standards.


Image courtesy of the IIA

So there we go. Lets get started if you haven't started the Journey yet.

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