This segment focuses on Domain III - Governing the Internal Audit Function. It is dedicated to the Standards related to Authorized by the Board and Positioned Independently.

Domain III offers what is likely the most dramatic change in the Global IA Standards. For the first time, standards for the IA profession will include direction and responsibilities for the board. Domain III outlines several standards for the board that:

  • Authorize the IA function.
  • Ensure and safeguard its independence and positioning within the organization.
  • Establishes the board’s responsibilities for overseeing the quality of the performance of both IA and the chief audit executive.

The new Standards emphasize that quality performance requires conformance to the Standards. Each standard within Domain III specifically identifies the responsibilities of the CAE and the board, as well as joint responsibilities.

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
Learning Objectives
  • Explore and evaluate Domain III – Governing the IA Function.
  • Discover and examine Principle 6 – Authorized by the Board.
    • Evaluate Standard 6.1 IA Mandate.
    • Evaluate Standard 6.2 IA Charter.
    • Evaluate Standard 6.3 Board and Senior Management Support.
  • Explore and examine Principle 7 – Positioned Independently.
    • Evaluate Standard 7.1 – Organizational independence.
    • Evaluate 7.2 – Qualifications of the CAE.
Last updated/reviewed: June 28, 2024
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Global Internal Audit Standards Domain III - Part 16:04
  Domain III - Governing the Internal Audit Function23:14
  Principle 6 - Standard 6.1 IA Mandate23:36
  Standard - 6.2 IA Charter15:10
  Standard 6.3 - Board and Senior Management Support15:49
  Principle 7 - Positioned Independently4:26
  Standard 7.1 - Organizational Independence26:44
  Standard 7.2 - Chief Audit Executive Qualifications10:40
  Summary2:30
CONTINUOUS PLAY
  Global Internal Audit Standards (GIAS) Domain III - Part 12:08:14
SUPPORTING MATERIAL
  Slides: Global Internal Audit Standards (GIAS) Domain III - Part 1PDF
  Global Internal Audit Standards (GIAS) Domain III - Part 1 Glossary/IndexPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam