Discription

Practice Guides provide detailed guidance for conducting internal audit activities. They include detailed processes and procedures, such as tools and techniques, programs, and step-by-step approaches, as well as examples of deliverables. Practice Guides are part of The IIA's International Professional Practices Framework. As part of the Strongly Recommended category of guidance, compliance is not mandatory, but it is strongly recommended and the guidance is endorsed by The IIA through formal review and approval process. The IIA has released a new practice guide entitled “Assisting Small Internal Audit Activities In Implementing the International Standards for the Professional Practice of Internal Auditing.” This practice guide provides a working definition of the term small internal audit activity. The guide acknowledges the challenges that a CAE and audit leadership may face in implementing the Standards, some suggestions for meeting those challenges, and discussion on the benefits of using the Standards. Many of the challenges discussed in this practice guide are not unique to small audit activities; larger activities may face many of the same challenges. However, these challenges are more frequently encountered in small audit activities and are typically more difficult for small audit activities to overcome.