Singapore Government

IA Essentials #1

The International Professional Practices Framework (IPPF) is a conceptual framework developed by the Institute of Internal Auditors (IIA) as a Standard and as a set of Guidelines for Internal Auditors. Made up of mandatory guidance and strongly recommended guidance, the IPPF forms the basis of the principles behind all IA activities.

The IIA released a revised version of the International Standards for the Professional Practice of IA ("Standards") in October 2012. The Standards fall under the mandatory guidance portion of the IPPF, and come into effect on 1st January 2013.

It would be worthwhile to note that the Singapore Code of Corporate Governance Principle 13.4 states that the Internal Auditor should carry out its function according to nationally or internationally recognised professional bodies. Thus, compliance with this set of Standards would fulfil this principle.

Click here to view the Standards

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