Updated 2024 Global IIA Standards - Domain I & II 4 Credits
Purpose of Internal Auditing, Ethics and Professionalism
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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.
| License details | Credits | Status |
|---|---|---|
| Auditing for Certified Public Accountants (CPA-US) | 4 CPE | Approved |
| Auditing for CPA in Canada | 4 CPD | Eligible |
| Certified Internal Auditors (CIA) | 4 CPE | Eligible |
| Auditing for Certified Management Accountants (CMA) | 4 CPE | Eligible |
| Auditing for Delaware Licensed Public Accountant (DE-LPA) | 4 CPE | Eligible |
| Auditing for Certified Government Financial Manager (CGFM) | 4 CPE | Eligible |
| Auditing for Certified Fraud Examiner (CFE) | 4 CPE | Eligible |
| Auditing for Internal Audit Practitioner (IAP) | 4 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 4 CPD | Eligible |
| Chartered Accountant - ICAEW | 4 CPD | Eligible |
| Internal Audit function for Certification in Risk Management Assurance (CRMA) | 4 CPE | Eligible |
| Auditing for Certified Internal Controls Auditor (CICA) | 4 CPE | Eligible |
| Auditing for Certified Financial Forensics (CFF) | 4 CPD | Eligible |
| Auditing for Qualification in Internal Audit Leadership (QIAL) | 4 CPE | Eligible |
| Auditing for Iowa Licensed Public Accountant (IA-LPA) | 4 CPE | Eligible |
| Auditing for Maine Licensed Public Accountant (ME-LPA) | 4 CPE | Eligible |
| Auditing for Certified Controls Specialist (CCS) | 4 CPE | Eligible |
| Auditing for Certified Government Auditing Professional (CGAP) | 4 CPE | Eligible |
| Chartered Accountants - Ireland (CAI) | 4 CPD | Eligible |
| Chartered Accountants - Scotland | 4 CPD | Eligible |
| CPA - Ireland | 4 CPD | Eligible |
| License details | Credits | Status |
|---|---|---|
| Auditing for Certified Public Accountants (CPA-US) | 4.5 CPE | Approved |
| Auditing for CPA in Canada | 4.5 CPD | Eligible |
| Internal Auditing for Certified Internal Auditors (CIA) | 4.5 CPE | Eligible |
| Auditing for Certified Management Accountants (CMA) | 4.5 CPE | Eligible |
| Auditing for Delaware Licensed Public Accountant (DE-LPA) | 4.5 CPE | Eligible |
| Auditing for Certified Government Financial Manager (CGFM) | 4.5 CPE | Eligible |
| Auditing for Certified Fraud Examiner (CFE) | 4.5 CPE | Eligible |
| Auditing for Internal Audit Practitioner (IAP) | 4.5 CPE | Eligible |
| Association of Chartered Certified Accountants (ACCA) | 4.5 CPD | Eligible |
| Chartered Accountant - ICAEW | 4.5 CPD | Eligible |
| Internal Audit function for Certification in Risk Management Assurance (CRMA) | 4.5 CPE | Eligible |
| Auditing for Certified Internal Controls Auditor (CICA) | 4.5 CPE | Eligible |
| Auditing for Certified Financial Forensics (CFF) | 4.5 CPD | Eligible |
| Auditing for Qualification in Internal Audit Leadership (QIAL) | 4.5 CPE | Eligible |
| Auditing for Iowa Licensed Public Accountant (IA-LPA) | 4.5 CPE | Eligible |
| Auditing for Maine Licensed Public Accountant (ME-LPA) | 4.5 CPE | Eligible |
| Auditing for Certified Controls Specialist (CCS) | 4.5 CPE | Eligible |
| Auditing for Certified Government Auditing Professional (CGAP) | 4.5 CPE | Eligible |
| Chartered Accountants - Ireland (CAI) | 4.5 CPD | Eligible |
| Chartered Accountants - Scotland | 4.5 CPD | Eligible |
| CPA - Ireland | 4.5 CPD | Eligible |
Credits
4
Course Level
Basic
Instructional Method
QAS Self Study
Group Internet Based
Pre-requisites
None
Advance Preparation
None
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Explore your career with MY-CPE online CPE courses for CIA professionals. Earn valuable CIA CPE credits while expanding your skills and knowledge from anywhere, anytime. Our courses cover a wide range of topics relevant to your field, ensuring you stay up-to-date with the latest developments. With flexible scheduling and expert-led content, MY-CPE provides a convenient and effective learning experience tailored to your needs. Join us today and take advantage of our comprehensive resources to propel your career forward. Let MY-CPE be your trusted partner in achieving your professional goals.
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.
What is Self Study (QAS)?
Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
How do I earn CPE credits through self-study?
To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.
Are the self-study courses approved by NASBA and other regulatory bodies?
Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.
What are the requirements to maintain compliance with self-study courses?
To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.
How can I access my course completion certificates?
After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
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.
What is a Live Webinar Group Internet-Based Credit?
A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.
How do I earn credits through live webinars?
To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.
Are the live webinars approved by NASBA and other regulatory bodies?
Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
What are the requirements to maintain compliance with live webinar courses?
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
How can I access my webinar completion certificates?
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
How are credits reported to governing bodies?
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.
RH
I just wanted to share this observation. Question 3 in the review quiz, asks the following “What is Principle one in Domain one?” Shouldn’t that be Governance? Because Principle 1 in Domain II is on Integrity.
Feb 10, 09:00 AM ET
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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 - fastest in the industry.
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