International standards for performing audit

Internal audit in the subjects from the public sector is performed by internal auditors, in compliance with the accepted professional standards based on international standards for professional performing of internal audit.

Standards for professional performance of internal audit

Internal audit activities are performed in diverse legal and cultural environments; within organizations that vary in purpose, size and structure; and by persons within or outside the organization. These differences may affect the practice of internal auditing in each environment. However, the compliance with the International Standards for the Professional Practice of Internal Auditing is essential, if the responsibilities of internal auditors are to be met.

The purpose of the standards is to:

  1. Delineate basic principles that represent the practice of internal auditing as it should be.
  2. Provide a framework for performing and promoting of broad range of value added internal audit activities.
  3. Establish the basis for measurement of the internal audit performance.
  4. Foster improved organizational processes and operations.

The Standards consist of Attributive Standards (the 1000 Series), Performance Standards (the 2000 Series) and Implementation Standards (nnnn.xn). The Attributive Standards address the characteristics of organizations and individuals performing internal audit activities. The Performance Standards describe the nature of internal audit activities and provide quality criteria against which the performance of these services can be measured. The Attributive and Performance Standards apply to internal audit services in general. The Implementation Standards apply the Attributive and Performance Standards to specific types of engagements (for example: Compliance audit, a fraud investigation or a control self-assessment project).

There is one set of Attributive and Performance Standards; however there are maybe multiple sets of Implementation Standards: a set for each of the major type of internal audit activity. Initially, the Implementation Standards are being established for assurance activities (noted by an “A” following the Standard number, e.g., 1130.A1), and consulting activities (noted by “C” following the Standard number e.g. nnnn.C1).

The Standards are part of the Professional Practice Framework. This framework was proposed by the Guidance Task Force and approved by The IIA’s Board of Directors in June 1999. this framework includes the Definitions of Internal Auditing, the Code of Ethics, the Standards, and other guidance. The Standards incorporate the guidance previously contained in the ”The Red Book”, recasting it into the new format proposed by the Guidance Task Force and updating it as recommended in the Task Force’s report, A Vision for the Future.

The Standards employ terms that have been given specific meanings that are included in the Glossary.

The Internal Auditing Standards Board is committed to extensive consultation in the preparation of the Standards. Prior to issuing any document, the Standards Board issues exposure drafts internationally for public comment. The Standards Board also seeks those with special expertise or interests for consultation where necessary. The development of standards is an ongoing process. The Standards Board welcomes input from IIA members and other interested parties to identify emerging issues requiring new standards or revision to current standards or revision to current standards.

Suggestions should be sent to:

The Institute of Internal Auditors
AVP, Professional Practices
Global Practices Centre,
247 Maitland Ave.
Altamonte Springs, Florida 32701 - 4201
E-mail: standards@heiia.org