New IPPF Frequently Asked Questions |
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When will The IIA’s International Standards for the Professional Practice of Internal Auditing (Standards) be revised? Will there be any changes as a result of the launch of the new International Professional Practices Framework (IPPF)?
The International Internal Audit Standards Board (IIASB) will be reviewing the Standards to determine if any changes are necessary as a result of the new IPPF, specifically, the addition of the Mission of Internal Audit and the Core Principles for the Professional Practice of Internal Auditing. In accordance with our due diligence process, any proposed changes to the Standards will be exposed to the membership and allow 90 days for feedback. Upon receiving feedback, the IIASB will recommend revisions to the Standards and will communicate the effective date of any approved changes.
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What happens to existing guidance upon launch of the new International Professional Practices Framework (IPPF)?
Implementation Guidance: Existing practice advisories will remain current until they are retired with the issuance of Implementation Guidance. During the July 6 launch, Implementation Guide 1000: Purpose, Authority, and Responsibility, and Implementation Guide 2110: Governance, will be released and the corresponding practice advisories will be retired. New Implementation Guides will be released on a quarterly basis throughout 2015–16, beginning in October 2015.
Supplemental Guidance: All existing Practice Guides and Global Technology Audit Guides (GTAGs) will become Supplemental Guidance upon launch of the new IPPF.
Position Papers: Position Papers will be removed from the IPPF effective July 5. Existing position papers will continue to be maintained on The IIA’s Standards & Guidance web pages until transitioned. We will communicate future changes as they happen.
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When will the International Professional Practices Framework (IPPF) 2013 Edition be updated to reflect the new IPPF?
To support the new IPPF, the major changes over the ensuing 12 to 18 months (throughout 2016) will be to retire existing practice advisories as new replacement Implementation Guides get published. Beyond that, the base content of the 2013 edition of the “Red Book” will not change (Definition, Standards, Code of Ethics), making the 2013 edition still an important reference source for many internal audit functions.
While the most current version of IPPF content will always be available on The IIA’s website, The IIA Research Foundation Bookstore is also exploring the feasibility of an online service or other cost-effective means of virtual, fully searchable, and on-demand access to all IPPF content. More to come on this later in 2015.
With impending updates to the Standards not being fully implemented until sometime in 2017, a new, hard-bound edition of the “Red Book” will not be made available until that time.
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When will the Quality Assessment Manual for the Internal Audit Activity be updated to reflect the new IPPF?
The current Quality Assessment Manual will remain in effect and valid. As the Standards get updated and revised over time, as usual, a new Quality Assessment Manual is likely to be published in 2017 or 2018. A new manual will likely give consideration to assessments of achievement of the Core Principles in addition to an assessment of conformance with the Standards.
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When will the changes to the International Professional Practices Framework (IPPF) be tested on certification exams?
Normally, changes are tested beginning six months after the effective date. Because the exams are based on IPPF content and not the framework itself, the exam will be updated at least six months after any IPPF content changes. It is anticipated that changes to the Standards will occur after January 2017. This will provide ample time for alignment between the guidance, training programs, and exam preparation and review providers.
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When will the changes to the International Professional Practices Framework (IPPF) be integrated into existing training courses?
Talking points and changes will be acknowledged in The IIA’s courses immediately with complete conversion of the new Framework by the end of 2016.
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An updated edition of the International Professional Practices Framework (IPPF) guide, more commonly known as the Red Book, is now available. Visit the IIA Bookstore for more information.
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