Updated 2024 Global IIA Standards - Domain I & II 4 Credits
Purpose of Internal Auditing, Ethics and Professionalism
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Dec 16, 2024 | 01:00 PM
ET
What do the latest global standards mean for the future of internal auditing?
The Institute of Internal Auditors (IIA) recently introduced the 2024 Global Internal Audit Standards, marking a shift in how internal auditors approach ethics, professionalism, competency, and due care. These updates aim to enhance the overall quality and effectiveness of the internal audit function, offering more explicit guidance to auditors worldwide. With these changes set to take effect by January 2025, it’s crucial to understand how they differ from the 2017 standards and what steps are necessary to align your practice with these evolving guidelines.
The Global Standards are organized into five domains.
This CPE Course will analyze Domains I and II of the new standards. Domain, I explore the purpose of internal auditing, revisiting and refining the definition set in 2017. Domain II delves into ethics and professionalism, focusing on integrity, objectivity, and confidentiality.
Key topics discussed:
Join this CPE Course; you will gain a deeper understanding of how these new standards improve the scope and practice of internal auditing.
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Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.
Ms. Fountain is currently engaged in her own consulting and training practice. She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit. She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training. She is the author of three separate technical books.
Ms.
Fountain obtained her BSBA from Pittsburg State University and her MBA from
Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
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We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
AB
The webinar provided a thorough overview of the updated standards, with a specific focus on the principles of integrity and objectivity within the internal audit profession. The content was highly relevant and addressed key changes, such as the introduction of the "public interest" concept and the expansion of integrity to include "honesty and courage" in decision-making. The presenter, Lynn Fountain, delivered the material clearly and effectively, making complex ideas easy to understand.
IG
All is perfect. Except last minutes of the presentation when the author starts to speak about IA plan which I guess is part of the other training.
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