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06 October 2015

Updated Professional Practices Framework encourages fresh ideology for internal auditors

By Adam Allcock

Updated Professional Practices Framework encourages fresh ideology for Internal Auditors    

This  summer, The Institute of Internal Auditors (IIA) updated their International Professional Practices Framework (IPPF), calling for the world of internal audit to take a more modern approach to the profession.

To carry out their responsibilities well, internal auditors must rely on the standards guiding the profession and have confidence that those standards reflect how the profession is being practiced.

Richard Chambers, IIA President, said: "One of the key factors leading to the changes to the framework, which went live in July, was the need to adapt to the changing expectations of financial regulators towards internal auditors. The IIA anticipate that henceforth there will be increased pressure on boardrooms worldwide to fully recognise the significance the role that internal audit plays in achieving good governance.

"The role of internal audit and the risk landscape in which we work have evolved significantly since 1999, the last time we revised the IPPF. Our guidance must meet new expectations for our profession and enable practitioners to be courageous and forward-looking in their work."

Anton van Wyk, Immediate Past Chairman of The IIA’s Global Board of Directors, added: "The updated Framework now includes a new Mission Statement which highlights the purpose of internal audit and what it strives to achieve, as well as highlighting 10 Core Principles for the Professional Practice of Internal Auditing. The Mission Statement is to be referred to as an everyday guide, whereas the Principles provide a flexible yet stable direction for all activities partaken by internal audit."

The new Mission Statement for the Internal Audit profession -  'To enhance and protect organisational value by providing risk-based and objective assurance, advice and insight.'

The Core Principles have been formulated to specify what is required in order to achieve internal audit effectiveness. In the eyes of the IIA, all 10 of the Core Principles need to be adhered to in order for the of the internal audit function to be considered optimal. Failure to achieve any of the Principles implies that the internal audit function within an organisation is not achieving maximum performance, and is therefore not achieving the Mission of internal audit.

The 10 Core Principles for the Professional Practice of Internal Auditing are as follows:


  • Demonstrates integrity.
  • Demonstrates competence and due professional care.
  • Is objective and free from undue influence (independent).
  • Aligns with the strategies, objectives, and risks of the organization.
  • Is appropriately positioned and adequately resourced.
  • Demonstrates quality and continuous improvement.
  • Communicates effectively.
  • Provides risk-based assurance.
  • Is insightful, proactive, and future-focused.
  • Promotes organisational improvement.             

The IIA confirm that new and revised publications which support the Principles will be issued on an ongoing basis, to ensure audit professionals have access to updated and relevant collateral to ensure best practice in an ever-changing business environment.

Read more about the International Professional Practices Framework on the IIA Website

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