IPPF 2024: Revolution In Internal Auditing Or Just Fine-Tuning?

On January 9^th, 2024, the "Institute of Internal Auditors (IIA)" introduced the updated Global Internal Audit Standards, which are set to replace the existing "International Professional Practices Framework" (IPPF) after a one-year transition period. The new standards will be compulsory as of January 9^th, 2025.

The significance of these standards are highlighted by their worldwide applicability. In Germany, the "Deutsches Institut für Interne Revision e.V. (DIIR)" has already translated these standards, which will be formally adopted in 2025, and recommends applying the standards in advance.

Serving as a binding framework, these standards provide a foundation for the practices, processes, and methodologies of internal audit. The primary objective is to improve the quality of internal audit activities. The standards are not limited to internal auditors who are employed directly by an organization, but also includes internal auditor who are commissioned via an