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Navigating the New Era: The 2024 Global Internal Audit Standards

In an era defined by rapid changes and complex challenges, the Institute of Internal Auditors (IIA) has once again set the stage for transformative practices within the internal audit profession. With the issuance of the Global Internal Audit Standards in January 2024, the IIA has charted a course for internal audit functions worldwide to elevate their practices and enhance their strategic value to organizations. These new Standards, required to be implemented by January 9, 2025, signify a pivotal shift from the 2017 International Standards for the Professional Practice of Internal Auditing. As we navigate through this transition period, it’s imperative for internal audit leaders to grasp the foundational themes, key changes and the steps necessary for a seamless integration into the new framework.

A New Structural Paradigm

The restructured Standards introduce a novel numbering system and order. The Standards are now categorized into five domains, ranging from the purpose of internal auditing to the performance of audit services, each underpinned by guiding principles and specific standards that embody a comprehensive framework aimed at addressing today’s dynamic business environment. This reorganization not only streamlines the approach to internal auditing but also encapsulates a broader perspective on the profession’s role within the governance framework of organizations.

Key Innovations and Enhancements

Among the significant new requirements include:

  • Establishment of an internal audit strategy
  • Heightened governance and oversight by the board and senior management
  • Enhanced reporting including ratings/rankings considerations
  • External quality assessments to be conducted by a team that includes at least one CIA
  • Technology considerations for the internal audit function’s evolving needs

Responding to a Changing World

The new Standards are a response to the need for stronger governance frameworks and more adaptable auditing practices that can navigate the complexities of the modern business landscape. They offer specific guidance for diverse audit environments, including the public sector and small audit functions, and address critical areas such as cybersecurity. This flexibility and specificity are vital for internal auditors across all sectors and geographies.

The Path Forward

With the Standards’ effective date of January 9, 2025, the IIA encourages early adoption to leverage the benefits of the enhanced framework. The comprehensive effort behind the IPPF Evolution project, reflecting extensive global engagement and feedback, underscores the significance of these Standards in promoting agile, effective and high-quality internal auditing practices. The timeline over the next several months per the IIA is as follows:



*From the Future of the IPPF Evolution (theiia.org)

Preparing for Change

To align with the new requirements, internal audit leaders should consider the following steps for a smooth transition:

  1. Perform a gap assessment that benchmarks current policies and practices against the 2024 Standards
  2. Develop a prioritized roadmap
  3. Communicate the new requirements and roadmap to senior management and audit committees for a smooth transition
  4. Implement and/or modify required changes

Internal audit functions should also evaluate when their next external quality assessment is due to meet the 5- year requirement and consider the factors of accelerating its assessment in 2024 and preparing for its next external quality assessment that incorporates the new requirements.


The 2024 Global Internal Audit Standards represent a forward-thinking approach to internal auditing, tailored to meet the challenges of today’s and tomorrow’s business environments. By embracing these changes, internal audit functions can enhance their strategic value, improve governance frameworks and contribute more effectively to organizational success. The journey towards January 2025 offers an opportunity for internal audit leaders to lead the charge in adopting practices that not only comply with global standards but also drive excellence and innovation within their organizations.


Learn more about how FD can support your internal compliance resources here.

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