Survey Results Survey Closed November 3, 2014 We Received - - PowerPoint PPT Presentation

IPPF Enhancement Exposure Survey Results

Survey Closed November 3, 2014

Thank You for Sharing Your Views

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We Received Responses From Across The Globe

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
• 9,000 + Video views
• 16,400 + Web Page Visits
• 6,600 + Exposure Draft

Downloads

• 8 Exposure Draft and Survey

Translations*

Final Exposure Results Metrics

*Arabic, Chinese, French, German, Italian, Japanese, Portuguese, Spanish

The IPPF Relook Exposure

• Aug. 4–Nov. 3, 2014
• 845 Survey Responses
• 4,000 Individual Survey

Comments

• 47 Separate Comment Letters

(280 pages)

Final Exposure Results Metrics

Exposure Survey Results Details

Summary of the Elements

• f 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 support or completely support the additional of a Mission of Internal Auditing to the IPPF.



“To enhance and protect organizational value by providing stakeholders with risk- based, objective and reliable assurance, advice and insight.”



80% of respondents believed

• r strongly believed that the

Mission correctly captured what internal audit aspires to accomplish.



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.

• 1. Demonstrates uncompromised integrity.
• 2. Displays objectivity in mindset and

approach.

• 3. Demonstrates commitment to

competence.

• 4. Is appropriately positioned within the
• rganization with sufficient organizational

authority.

• 5. Aligns strategically with the aims and

goals of the enterprise.

• 6. Has adequate resources to effectively

address significant risks.

• 7. Demonstrates quality and continuous

improvement.

• 8. Achieves efficiency and effectiveness in

delivery.

• 9. Communicates effectively.
• 10. Provides reliable assurance to those

charged with governance.

• 11. Is insightful, proactive, and future-focused.
• 12. Promotes positive change.

Core Principles for the Professional Practice of Internal Auditing



89% of respondents support or completely support adding Core Principles for the Professional Practice

• f Internal Auditing as an element of the

IPPF.



• 1. Demonstrates uncompromised integrity.
• 2. Displays objectivity in mindset and

approach.

• 3. Demonstrates commitment to

competence.

• 4. Is appropriately positioned within the
• rganization with sufficient organizational

authority.

• 5. Aligns strategically with the aims and

goals of the enterprise.

• 6. Has adequate resources to effectively

address significant risks.

• 7. Demonstrates quality and continuous

improvement.

• 8. Achieves efficiency and effectiveness in

delivery.

• 9. Communicates effectively.
• 10. Provides reliable assurance to those

charged with governance.

• 11. Is insightful, proactive, and future-focused.
• 12. Promotes positive change.



79% of respondents support or strongly support the view that all Principles must be present for an internal audit function to be considered effective.



Implementation Guidance & Supplemental Guidance

Restructuring of the current guidance elements of the IPPF:

• Practice Advisories to Implementation Guidance
• Practice Guides to Supplemental Guidance



83% of respondents support or completely support the restructure

• f “Practice Guides” to

“Supplemental Guidance” as part of the framework. 



86% of respondents support or completely support the restructure

• f “Practice Advisories”

to “Implementation Guidance” as part of the 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

• f 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