Mar 11, 2010 01:00PM

Evaluating Corporate Social responsibility/Sustainable Development

 Download (PDF; members only) Non-members can purchase from the bookstore. CSR presents significant risks and opportunities for many organizations. Stakeholders expect boards and management to accept responsibility and implement strategies and controls to manage their impact on society and the environment, to engage stakeholders in their endeavors, and to inform the public about their results. The proliferation of regulation and voluntary standards has made CSR management a complex endeavor.  Internal auditors should understand the risks and controls related to CSR objectives. Where appropriate, the CAE should plan to audit, facilitate control self-assessments, verify results, and/or consult on the various subjects. Internal auditors should maintain the skills and knowledge necessary to understand and evaluate the governance, risks, and controls of CSR strategies.  This guide will assist internal auditors in understanding the following: The risks (operational, reputational, etc.) associated with CSR activities and how to use such knowledge in audit planning The approaches to evaluating CSR activities, including auditing, facilitating, and consulting Audit considerations such as use of the audit opinion, independence and objectivity, and types of resources Considerations in developing the internal audit program, including whether CSR information is consistent with standards and how management communicates and sets priorities for CSR strategies The guide also explains detailed approaches to auditing in the following appendices: Auditing by Element Auditing by Stakeholder Group Stakeholder Theory Additional Resources (references to additional practice guides and IIA seminars)  Want to learn more? Try this seminar.  

Mar 02, 2010 09:09AM

The IIA's Global Internal Audit Survey Opens March 15. We Want Your Participation!

Every internal audit practitioner around the globe is invited to participate! The IIA’s Global Internal Audit Survey is the most comprehensive global study of the profession to be conducted since the 2006 study and should provide internal audit practitioners with the latest information on the status of the profession across the globe. The results of the survey will: Present insights on emerging issues and challenges facing the profession. Help identify new opportunities to add value as an internal audit professional to your organization. Contribute to the development of new standards and guidance. Show changes in the profession since the 2006 study was conducted, and much more. Learn more and prepare to participate in the survey beginning March 15.

Mar 01, 2010 11:00AM

Provide Feedback on 2010 IPPF Standards Exposure Draft

2010 Standards Exposure The IPPF process requires that all guidance be reviewed at least once every three years to ensure that it remains current, relevant, and timely. The IIA’s Internal Audit Standards Board (IASB) has recently conducted a comprehensive review of the International Standards for the Professional Practice of Internal Auditing (Standards) and is proposing changes to some of the Standards as well as recommending new Standards. Part of the established guidance process includes the exposure of proposed changes in mandatory guidance to stakeholders of the profession to ensure the modifications are clear, understandable, and consistent with the practice of internal auditing. The proposed changes and new Standards have a 90-day exposure period from Feb. 15, 2010 to May 14, 2010. To facilitate your response to this exposure draft, we encourage you to complete an online survey that will guide you through each of the proposed changes to the Standards and glossary. The survey will allow you to vote on whether you agree with the proposed additions or revisions and to provide additional comments. All individuals should use the following survey link to submit comments; Organizations and IIA institutes may send the response letter to: iia-exposure@theiia.org. Please include Standards Exposure in the subject line, and be sure to reference the headings and numbering systems used in the exposure. The current Standards are available on The IIA’s Web site at: http://www.theiia.org/guidance/standards-and-guidance/ippf/standards/. You can review the mark-up version of the current Standards and proposed changes.    The following table outlines the Standards Exposure Instructions, and the link to online survey. You may choose your preferred language. Language Exposure Draft Instructions Link to Online Survey English http://www.theiia.org/download.cfm?file=73755 http://iiasurvey.theiia.org/flashsurvey/se.ashx?s=0B87D7844DFAA21F Español http://www.theiia.org/download.cfm?file=85961 http://iiasurvey.theiia.org/flashsurvey/se.ashx?s=0B87D78467593775 Français http://www.theiia.org/download.cfm?file=13791 http://iiasurvey.theiia.org/flashsurvey/se.ashx?s=0B87D78413ABB073 Bosanski http://www.theiia.org/download.cfm?file=16235 http://iiasurvey.theiia.org/flashsurvey/se.ashx?s=0B87D7841BB2E434 Crnogorski http://www.theiia.org/download.cfm?file=45338 http://iiasurvey.theiia.org/flashsurvey/se.ashx?s=0B87D7845614C725 ????????? http://www.theiia.org/download.cfm?file=75599 http://iiasurvey.theiia.org/flashsurvey/se.ashx?s=0B87D784684FBEBA Italiano http://www.theiia.org/download.cfm?file=4335 http://iiasurvey.theiia.org/flashsurvey/se.ashx?s=0B87D78476213E35    All responses and comments must be submitted on or before May 14, 2010. For additional questions, please email iia-exposure@theiia.org    Standards Exposure Webinar: The IIA hosted a webinar on Feb. 19, 2010 to review the proposed changes. The IASB chair and vice chair provided background and additional explanations regarding the Standards exposure. Here are Power Point presentation  (703KB) slides and webinar replay.  See answers to the questions asked during the webinar.  

Feb 22, 2010 11:50AM

IIA-UK & Ireland Achieve Chartered Status

The professional body which represents more than 8,000 internal auditors in the UK and Ireland will be awarded chartered status. The Institute of Internal Auditors of the UK and Ireland (IIA-UK & Ireland), which was formed in 1948, will become the Chartered Institute of Internal Auditors, effective October 1, 2010.   IIA-UK & Ireland Institute President Dr. Sarah Blackburn, who led the project to attain the status, said, "This is a major milestone in the development of the internal audit profession. The award of chartered status is public acknowledgement of the importance of internal auditing in helping organisations manage their risks better as part of good governance. It comes at a time when risk management and corporate governance have never been a higher priority."   Institute Chief Executive Dr. Ian Peters said, “The award of chartered status is a timely boost to our strategy. The internal audit profession has much to contribute to the corporate governance arena. Our aim is to increase our involvement in the development of public policy and also ensure that individual organisations have the highest levels of specialist internal auditing knowledge and skills.” Chartered status is awarded by the Privy Council to organisations working in the public interest, usually professional bodies that demonstrate pre-eminence, stability and permanence in their particular field. Currently, there are approximately 400 active chartered bodies. The success of the economy and wider society in the UK and Ireland is dependent on the success of their organisations - whether they create wealth or deliver public services. Internal auditing’s focus on improving the effectiveness of organisations through risk management, internal control and good governance is therefore of clear public importance.  The Benefits of Chartered Status include: Acknowledgement that internal audit professionals are experts in their field. Suitably qualified members of the new Chartered Institute of Internal Auditors will be able to call themselves Chartered Internal Auditors, placing them on a par with other qualified professionals. Enhanced stature for organizations employing Chartered Internal Auditors, giving credibility to their risk management, internal control, and governance practices. It will raise the profile of internal auditing internally and externally, and will encourage boards and management to maximize the assurance benefits of internal auditing. Promotion of The Institute's position of influence as the leading voice of the profession and enhance its contribution to the public interest.

Feb 08, 2010 11:10AM

New IIA Thought Leadership Reports Provide Guidance on Fraud and SEC Proxy Disclosure Rules

To keep you abreast of the latest issues impacting the internal audit profession, The IIA recently released two thought-leadership reports. The first report, Flash Alert: New SEC Proxy Disclosure Rules, discusses the steps chief audit executives (CAEs) can take to demonstrate internal auditing’s vital role in supporting effective governance and risk management practices in light of the new U.S. Securities and Exchange Commission’s (SEC’s) Proxy Disclosure Rules. To gather this thought leadership, The IIA’s Audit Executive Center convened a select group of internal audit professionals to develop a list of 10 actions CAEs should take now to establish internal auditing as an integral part of the new proxy disclosure process. Read the press release here The second report, Knowledge Alert: Emerging Trends in Fraud Risk, summarizes the results of a recent IIA Flash survey on the state of internal audit efforts pertaining to fraud risk. According to the nearly 300 CAEs and internal audit directors and managers participating in the survey, the prevalence of fraud risks is a still a topic of much debate in many organizations. Among other key results, the survey found that programs in companies to manage fraud risks are becoming a higher priority, receiving more attention at the senior management and board level, and starting to become more effective.  These and other reports are being published by The IIA’s Audit Executive Center. Stay tuned to similar thought-leadership reports and other special offerings from the Audit Executive Center or contact Donna Batten, IIA director of CAE Services, for more information. To download a copy of both reports, visit The IIA’s Knowledge Services Web page. .