Key to Conformance

All Things Internal Audit: Key to Conformance

The Institute of Internal Auditors Presents: All Things Internal Audit

In this episode, Liz Sandwith, talks with Lauressa Nelson about the changes in The IIA's new Global Internal Audit Standards. They discuss how internal auditors can prepare for these changes, the challenges they may face, and practical strategies to ensure conformance by Jan. 9, 2025.

Guests:

Liz Sandwith, CFIIA, managing partner, Sandwith Internal Audit Services and a former member of the International Internal Audit Standards Board

Host

Lauressa Nelson, senior manager, Professional Standards, The IIA

Key Points:

• Introduction to the New Standards (00:00:02 - 00:00:23)
• Current State of Readiness (00:00:31 - 00:01:29)
• Challenges in Conformance (00:01:29 - 00:02:24)
• Strategies for Preparation (00:02:24 - 00:03:37)
• Behavioral Standards and Evidence (00:06:03 - 00:07:19)
• Purpose and Domain 1 (00:08:30 - 00:10:04)
• Governing the Internal Audit Function (Domain 3) (00:11:36 - 00:13:17)
• Internal Audit Strategy (Domain 4) (00:17:44 - 00:19:02)
• Quality Assurance and Improvement Program (QAIP) (00:25:04 - 00:26:57)
• Coordination and Reliance (Domain 5) (00:27:12 - 00:28:41)

The IIA Related Content: Interested in this topic? Find more articles and resources to support internal auditors conforming to the new standards below: Ethically Mastering the Global Internal Audit Standards Navigating the Global Internal Audi Standards

Check out the October issue of Internal Auditor magazine for Liz Sandwith’s article, “Ready to Conform,” packed with practical advice for meeting the new standards by January 2025. Visit The IIA's website or YouTube channel for related topics and more. Resources Mentioned:

• The IIA’s Two-Way Mapping Document
• Conformance Readiness Assessment Tool
• The IIA’s New Global Internal Audit Standards
• Liz Sandwith, “Ready to Conform,” Internal Auditor magazine, October 2024

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