Executive summary
The Global Internal Audit Standards™ issued by The Institute of Internal Auditors reshape the expectations placed on internal audit functions — including governance of the function, strategic planning, methodology, quality assurance, reporting and the relationship with boards and audit committees. This article sets out what that means in practice for internal audit transformation, chief audit executives and audit committees.
The Global Internal Audit Standards™ issued by The Institute of Internal Auditors became effective on 9 January 2025. They reshape the expectations placed on internal audit functions — including governance of the function, strategic planning, methodology, quality assurance, reporting and the relationship with boards and audit committees.
This article sets out what that means in practice for internal audit transformation, chief audit executives and audit committees, and how internal audit advisory services support a GIAS-aligned response. For wider governance, risk and control uplift, governance advisory services are often run alongside. The official standards are available from the Global Internal Audit Standards issued by The Institute of Internal Auditors.
DisInnova is an independent advisory firm and is not affiliated with, endorsed by or certified by The Institute of Internal Auditors. References to the Global Internal Audit Standards are for context only.
Key takeaways
- GIAS reshapes expectations across governance, strategy, methodology, quality and reporting
- The 9 January 2025 effective date is the trigger for an honest read of where the function stands
- Treat GIAS as the spine of internal audit transformation, not a compliance exercise
- Embed quality assurance and EQA readiness as part of how the function operates
Written by
DisInnova Advisory Team
DisInnova's insights are prepared by a senior practitioner-led advisory firm with credentials across internal audit, IT audit, governance, risk management, controls, fraud examination, strategy, corporate governance and financial services, including CIA, CISA, CFE, CRMA, CRISC and related professional certifications.
This article is general advisory information and does not constitute legal, regulatory, audit, tax, investment or professional assurance advice.