All Things Internal Audit Public Sector Considerations for New IIA Standards
7 snips
Jun 26, 2024 Pamela Stroebel Powers, IIA director, discusses challenges and strategies for public sector auditors adapting to new internal audit standards. Topics include governance complexities, conformance readiness, and resources from the IIA to support auditors.
AI Snips
Chapters
Transcript
Episode notes
Explicit Public Sector Inclusion
- Public sector considerations are explicitly included in the new IIA standards.
- This addresses specific nuances and challenges faced by public sector auditors in implementing standards.
Governance Challenges in Public Sector
- Domain three, governing the internal audit function, presents significant changes for the public sector.
- Defining the governing body and navigating varied reporting lines are key challenges.
Audit Committee Relations
- Public sector entities face challenges in establishing buy-in from governing bodies/audit committees.
- Concerns about external members and public disclosure add complexity.