Comments by the Auditing Standards Committee of the Auditing Section of the American Accounting Association on The Institute of Internal Auditors' Proposed Enhancements to the International Professional Practices Framework (IPPF)

SUMMARY: According to the IIA, “The International Professional Practices Framework (IPPF) is the conceptual framework that organizes authoritative guidance promulgated by The Institute of Internal Auditors.” The IPPF includes overarching principles and standards of internal audit practice (e.g., the definition of internal audit, the code of ethics, the standards), as well as detailed guidance for carrying out specific activities (e.g., practice advisories). The IPPF is currently organized to differentiate between mandatory guidance and strongly recommended guidance for internal auditors as they carry out the responsibilities of the profession. On August 4, 2014 the Institute of Internal Auditors (IIA) solicited public comments on its proposed enhancements to the International Professional Practices Framework (IPPF). This “relook” is intended to modify the existing structure of the IPPF so that it (1) “benefits IIA members, the internal audit profession as a whole, and its stakeholders,” and (2) strengthen...