IIA-Australia Factsheet - The Global Internal Audit Standards and the IIA-Australia Financial Services Guide

Author	IIA-Australia
Date	2024
Topics Explored	Internal Audit
Format	Factsheet
Extract/Description	The IIA-Australia issued the ‘Internal Audit Better Practice Guide for Financial Services in Australia’ in 2020. This Factsheet provides commentary on how the Principles / Recommendations relate to the new ‘Global Internal Audit Standards’.
Key Points	This publication sets out recommendations for internal audit practice in financial services organisations within Australia: Position internal audit for success. Ensure adequate resourcing and seniority. Provide assurance which adds value. Employ methods and tools appropriate to the task. Report to influence positive change. Adopt appropriate methodologies for auditing risk culture.
Relevant Industries	Financial Services
Level of Assumed Knowledge	Intermediate