This segment is dedicated to Domain V, Principle 14 & 15 and the Standards related to Performing Internal Audit Services.

Principle 14 deals with conducting engagement work. There are six related standards within this principle that include:

  • Gathering information for analysis and evaluation
  • Analysis and potential engagement findings
  • Evaluation of findings
  • Recommendations and action plans
  • Engagement conclusions
  • Engagement documentation

Principle 15 deals with Communicating engagement results and monitoring action plans. It includes two separate standards:

  • Final engagement communication
  • Conforming the implementation of recommendations or actions

Internal audit services involve providing assurance, advice or both. Internal Auditors are expected to apply and conform with the Standards when performing engagements whether they are providing assurance advice (except when otherwise indicated in individual standards). Assurance services are designed to provide confidence about GRC/control processes. Through assurance services, auditors provide objective evaluation criteria.

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
  • Discover and discern Principle 14 Conduct Engagement Work.
    • Evaluate Standard 14.1 Gathering Information for Analysis and Evaluation
    • Evaluation Standard 14.2 Analysis and Potential Engagement Findings
    • Evaluate Standard 14.3 Evaluation of Findings
    • Evaluate Standard 14.4 Recommendations and Action Plans
    • Evaluate Standard 14.5 Engagement Conclusions
    • Evaluate Standard 14.6 Engagement Documentation
  • Discover and discern Principle 15 Communicate Engagement Results and Monitor Action Plans.
    • Evaluate Standard 15.1 Final Engagement Communication
    • Evaluation Standard 15.2 Conforming the Implementation of Recommendations or actions
Last updated/reviewed: June 27, 2024
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 to Global Internal Audit Standards (GIAS) Domain V: Part 28:08
  Domain V Performing Audit Services1:27
  Principle 14-Standard 14.1 Gather Information13:11
  Standard 14.1 Analyses and Potential Engagement Findings12:34
  Standard 14.3 Evaluation of Findings14:30
  Standard 14.4 Recommendation and Action Plans10:46
  Standard 14.5 Engagement Conclusion4:32
  Standard 14.6 Engagement Documentation7:58
  Principle 15 - Standard 15.1 Final Engagement Communication10:32
  Standard 15.2 Confirming the Implementation Recommendations or Action Plans6:52
  Global Internal Audit Standards (GIAS) Domain V: Part 21:32:45
  Slides: Global Internal Audit Standards (GIAS) Domain V: Part 2PDF
  Global Internal Audit Standards (GIAS) Domain V: Part 2 Glossary/IndexPDF