Global Internal Audit Standards (GIAS) Domain I and II – Part 1

In May 2023, the IIA released a draft of the new Global Internal Audit Standards. The intent was to provide more effective standards for Internal Audit globally.

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 o 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

This segment is dedicated to Domain I and II. We will review the new Purpose Statement of Internal Auditing and compare and contrast it to the 2017 IPPF Mission and Definition of Internal Audit. We will then begin to delve into Domain II – Ethics and Professionalism which contains Principle one on demonstrate objectivity and Principle two on maintain objectivity.

Future courses with delve into the principles outlined in Domain III, IV and V.

The IIA also released a two-way mapping document of the 2017 IPPF standards to the 2024 Global standards. This is the first segment on the IIA Global Standards. In this segment we overview the structure of the Standards and compare to the 2017 Standards.