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12 Internal Auditing Principles Outlined in Proposed Guidance

Article
1 minute read
July 31, 2017

Earlier this month, the Institute of Internal Auditors (IIA) announced proposed changes to the International Professional Practices Framework, guidance supporting effective internal auditing. Proposed changes include a new mission statement and a set of 12 core internal auditing principles for internal auditors to follow. 

The IIA’s standards have always been considered principles-based, but articulating them would add a new element to the framework. As it stands, the proposed changes would not affect the content of existing elements in the framework.

The core principles proposed to characterize an effective internal audit function are as follows:

The Journal of Accountancy article Proposed new guidance outlines 12 principles for internal auditing provides a further overview of the proposed changes. The actual proposal is available on the IIA’s website. The IIA is seeking comments by November 3, 2014. If approved, elements of the new framework could be available in the first quarter of 2015, followed by a new framework possibly in 2016.