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Internal audit in the private and third sectors: will you meet the new benchmark?

The internal audit code of practice for private & third

As of January 2020, there is now a new industry benchmark for best practice in internal audit: the CIIA’s internal audit code of practice for the private and third sectors. Find out how the new code will affect you.

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The internal audit code of practice for private & third sectors

As of January 2020, there is now a new industry benchmark for best practice in Internal Audit: the CIIA’s Internal audit code of practice for the private and third sectors.

The voluntary, principles-based code provides welcome guidance about ‘what good looks like’ for internal audit functions, boards and audit committees throughout the private and third sectors.

It follows on from the successful launch of the internal audit in the financial services sector FS code in 2013, which created marked improvement in the scope, skills and status of internal audit functions.

The new Code consists of a series of recommendations on key themes, most of which are self-explanatory. Some areas, however, may be more challenging for organisations in terms of interpretation or compliance.

Read more on how the new code will affect you in our report: The internal audit code of practice for private & third sectors.

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