In May 2023, the IIA released a draft of the new Global Internal Audit Standards. The intent was to provide more effective standards for Internal Audit globally.
The new Global Internal Audit Standards were released on January 9, 2024, and will become effective January 9, 2025. The previous version, the International Standards for the Professional Practice of Internal Auditing, released in 2017, remains approved for use during a one-year transition period. The Global Internal Audit Standards guide the worldwide professional practice of internal audit. They serve as a basis for evaluating and elevating the quality of the internal audit function. The Standards use 15 guiding principles with five separate domains that enable effective internal audit implementation and examples of evidence of conformance. The Global Standards are organized into five domains.
Domain I: Purpose of Internal Auditing
Domain II: Ethics and Professionalism
Domain III: Governing the Internal Audit Function
Domain IV: Managing the Internal Audit Function
Domain V: Performing Internal Audit Service
DESIGNED FOR
CPAs, EAs, and other tax professionals with PTIN or data security obligations
BENEFITS
- Identify the key components and regulatory requirements of a Written Information Security Plan (WISP)
- Develop a customized WISP and outline practical steps for implementing and maintaining data security policies to protect client information and respond to breaches
HIGHLIGHTS
- Who gets breached?
- The Gramm-Leach-Bliley Act and FTC Safeguards Rule
- What is a Written Information Security Plan (WISP) and policy contents
- Securing digital assets
- What to do with a breach and information security policy
PREREQUISITES
None
ADVANCE PREPARATION
None