Mr J Michael Peppers CIA QIAL CRMA Chair
International Internal Auditing Standards Board (IIASB)
The Institute of Internal Auditors
Lake Mary, Florida USA
IIA-Australia’s response – Global Internal Audit Standards – 2023 draft for public comment
Thank you for the opportunity for the Institute of Internal Auditors-Australia (IIA-Australia) to comment on the 2023 draft for public comment Global Internal Audit Standards.
IIA-Australia welcomes the IIASB’s initiative to move from the previous IPPF to a comprehensive set of global internal audit standards to align with contemporary requirements. IIA-Australia notes that the change is significant and suggest that such an extensive rewrite is unlikely to produce a practical set of standards that is acceptable to the wider Membership in a single exposure process.
IIA-Australia also notes that there are several policy and practice changes in the draft Standards that have not been specifically addressed in consultation with the membership. Some of these are keystone issues and, should they be unacceptable to the membership, will have significant implications for the content and adoption of the Standards. Two of these are:
• The formulation of the definition of internal auditing, and
• Whether the chief audit executive should be an employee of the organisation or whether they may be a member of a service provider firm.
We attach our response. You are welcome to contact me at pete[email protected] if you would like to discuss this submission.
Chief Executive Officer