IPPF Enhancement Exposure Survey Results Survey Closed November 3, 2014
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The Exposure ALTAMONTE SPRINGS, Fla. (Aug. 4, 2014) — The Institute of Internal Auditors (IIA) announced today proposed enhancements to the International Professional Practices Framework (IPPF) and a 90-day exposure period amid heightened legislative, regulatory and market-driven demands on the internal audit profession.
The IPPF Relook Exposure Aug. 4 – Nov. 3, 2014 Final Exposure Results Metrics 9,000 + Video views 16,400 + Web Page Visits 6,600 + Exposure Draft Downloads 8 Exposure Draft and Survey Translations* *Arabic, Chinese, French, German, Italian, Japanese, Portuguese, Spanish
The IPPF Relook Exposure Aug. 4 – Nov. 3, 2014 Final Exposure Results Metrics 845 Survey Responses 4,000 Individual Survey Comments 47 Separate Comment Letters (280 pages)
Exposure Survey Results Details
Summary of the Elements of the Proposed Revised IPPF 85% of respondents support or completely support the changes regarding the IPPF as detailed.
Mission of Internal Auditing Expand the IPPF to include a mission statement to support the internal audit profession. The Mission of Internal Auditing as was exposed: “To enhance and protect organizational value by providing stakeholders with risk- based, objective and reliable assurance, advice and insight.”
Mission of Internal Auditing 88% of respondents 80% of respondents believed support or completely or strongly believed that the support the additional of Mission correctly captured a Mission of Internal what internal audit aspires to Auditing to the IPPF. accomplish. “To enhance and protect organizational value by providing stakeholders with risk- based, objective and reliable assurance, advice and insight.”
Core Principles for the Professional Practice of Internal Auditing Add principles to the IPPF that describe internal audit effectiveness and support the principles-based Standards and Code of Ethics. 7. Demonstrates quality and continuous 1. Demonstrates uncompromised integrity. improvement. 2. Displays objectivity in mindset and 8. Achieves efficiency and effectiveness in approach. delivery. 3. Demonstrates commitment to 9. Communicates effectively. competence. 10. Provides reliable assurance to those 4. Is appropriately positioned within the charged with governance. organization with sufficient organizational authority. 11. Is insightful, proactive, and future-focused. 5. Aligns strategically with the aims and 12. Promotes positive change. goals of the enterprise. 6. Has adequate resources to effectively address significant risks.
Core Principles for the Professional Practice of Internal Auditing 89% of respondents support or 79% of respondents support or completely support adding Core strongly support the view that all Principles for the Professional Practice Principles must be present for an of Internal Auditing as an element of the internal audit function to be IPPF. considered effective. 7. Demonstrates quality and continuous 1. Demonstrates uncompromised integrity. improvement. 2. Displays objectivity in mindset and 8. Achieves efficiency and effectiveness in approach. delivery. 3. Demonstrates commitment to competence. 9. Communicates effectively. 10. Provides reliable assurance to those 4. Is appropriately positioned within the charged with governance. organization with sufficient organizational authority. 11. Is insightful, proactive, and future-focused. 5. Aligns strategically with the aims and 12. Promotes positive change. goals of the enterprise. 6. Has adequate resources to effectively address significant risks.
Implementation Guidance & Supplemental Guidance Restructuring of the current guidance elements of the IPPF: • Practice Advisories to Implementation Guidance • Practice Guides to Supplemental Guidance 86% of respondents 83% of respondents support or completely support or completely support the restructure support the restructure of “ Practice Advisories” of “Practice Guides” to to “Implementation “Supplemental Guidance ” as part of the Guidance” as part of the framework. framework.
Addressing Emerging Issues Introduce processes to develop and promulgate emerging issues guidance in a timely manner. 84% of respondents support or completely support the introduction of a new IPPF element to address emerging issues.
Position Papers Delete “Position Papers” as a guidance element of the IPPF. 64% of respondents support or completely support the deletion of “Position Papers” as an element of the IPPF.
Required & Recommended Modify the classification of “Mandatory” and “Strongly Recommended” in the existing IPPF elements to “Required” and “Recommended,” respectively. 76% of respondents support or completely support the revision of the words “Mandatory” and “Strongly Recommended” to “Required” and “Recommended”.
If you have other matters you wish to communicate regarding these recommendations and this exposure draft process, please send them to: The Institute of Internal Auditors, Global Headquarters ATTN : Standards and Guidance IIA-Exposure@theiia.org
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