Description
This segment is dedicated to Domain II and the Standards related to Competency, Due Professional Care and Continuing Professional Development.
Within the first segment of Domain I and II we reviewed Principle One within Domain I and the first two Standards under Principle Two.
Domain One – Purpose of Internal Auditing
Domain Two – Ethics and Professionalism
Principle One – Demonstrate Integrity
- Standard 1.1 Honesty and professional courage
- Standard 1.2 Organizations’ Ethical Expectations
- Standard 1.3 Legal and Ethical Behavior
Principle Two – Maintain Objectivity
- Standard 2.1 Individual objectivity
- Standard 2.2 Safeguarding objectivity
- Standard 2.3 Disclosing Impairments to objectivity
Within this segment we review the remaining Principles and Standards within Domain II.
Principle Three – Demonstrate Competency
- Standard 3.1 Competency
- Standard 3.2 Continuing professional development
Principle Four – Exercise Due Professional Care
- Standard 4.1 Conformance with Global IIA Standards
- Standard 4.2 Due Professional Care
- Standard 4.3 Professional Skepticism
Principle Five – Maintain Confidentiality
- Standard 5.1 Use of Information
- Standard 5.2 Protection of Information
The new Global Internal Audit Standards were released on January 9, 2024, and will become effective January 9, 2025. The previous version, the International Standards for the Professional Practice of Internal Auditing, released in 2017, remains approved for use during a one-year transition period. The Global Internal Audit Standards guide the worldwide professional practice of internal audit. They serve as a basis for evaluating and elevating the quality of the internal audit function. The Standards use 15 guiding principles with five separate Domains that enable effective internal audit implementation and examples of evidence of conformance.
The Global Standards are organized into five domains.
- Domain I: Purpose of Internal Auditing
- Doman II: Ethics and Professionalism
- Domain III: Governing the Internal Audit Function
- Domain IV: Managing the Internal Audit Function
- Domain V: Performing Internal Audit Service
