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lead the profession going forward, just as the 1999 definition did when risk management and governance were in their infancy. The definition has acted as a driving force for internal auditors to move beyond the traditional focus of internal controls and become a cornerstone of governance and risk management processes.”
Definition and The Role of Auditing in Public Sector Governance (see “Supplemental Guidance Projects” for a complete list). Although Supplemental Guidance is not part of the IPPF, it is validated by The IIA, and conformance is encouraged to the extent applicable to the practitioner’s organization.
Representatives from more than 50 countries participated in a roundtable discussion about the relevancy of the current definition of the IIA Global Council in India and focus group discussions held at The IIA’s General Audit Management Conference to garner additional input from stakeholders. At the International Conference in Boston in July, the IIASB will propose a recommendation as to whether the definition should be revised.
PSC has begun reviewing existing IIA practice guides and making recommendations to revise and include additional information pertinent to public sector auditors. “Going forward, the PSC will review all of the practice guides coming out of the PIC to ensure content specific to public sector auditors is included,” says Freeman. “These changes represent a monumental step in The IIA’s efforts to provide more relevant guidance that addresses the unique circumstances of our government auditors.”
Targeting the Public Sector The IIA’s Public Sector Committee (PSC), a volunteer group that produces guidance tailored specifically to auditors working in the public sector, is yet another area in the midst of a transformation. Last year, the PSC was moved under the oversight of the Professional Guidance Advisory Council, a group that also oversees the IIASB and PIC. “What’s significant about this move,” explains Terri Freeman, director of IIA Standards and Guidance, “is that the PSC now has a more formal development process, which includes writing, developing, and marketing the guidance, so it’s getting more visibility.” Since the move, four new Supplemental Guidance documents have been released, such as, Public Sector
PSC Chairman Greg Hollyman, chief internal auditor at the Australian Taxation Office, is likewise enthusiastic about the PSC working closely with other arms of The IIA. “We look forward to assisting in developing the internal audit profession in the public sector in both the developed and developing countries throughout the globe, by not only addressing the needs of our fellow internal auditors, but also the needs of legislators and others who depend upon our work,” he says.
Poised for Tomorrow Change is nothing new for The IIA’s Standards and Guidance teams. It’s simply a necessary aspect of evolving to meet the needs of a growing profession. As sure as the rising sun
will cast its light on new priorities for tomorrow’s auditors, the guidance web will be ready — firmly anchored, yet flexible enough to withstand the winds of change — thanks to the hundreds of dedicated volunteers and staff who band together to form this expansive, adaptable network.
Supplemental Guidance Projects Just Released: • Value of Internal Audit in the Internal Audit Capability Model – Public Sector • Implementing a New Internal Audit Function in the Public Sector Coming soon: • Optimization of Internal Audit in the Public Sector • Model Legislation • Government Audit Standards and IPPF – Comparison (an update to the existing Red Book-Yellow Book Comparison) • Transparency in Public Sector Reporting • How to Build a Strategic Competency Plan in the Public Sector, which will be part of the IPPF.
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