Towards The Global Internal Audit Standards

The Institute of Internal Auditors has recently released the new Global Internal Audit Standards (the "Standards"), which will supersede the International Standards for the Professional Practice of Internal Auditing released in 2017. This provides an opportunity for the internal audit functions to evolve by adopting the new Standards and highlight their position in the organisation. The Standards become effective in January 2025, and early adoption is encouraged. The new Standards affect organisations regardless of size, industry, and geographic region. They are designed to help internal audit functions respond to today's challenging and rapidly changing environment.

How is the role of internal audit evolving?