Institute of Internal Auditors

The Institute of Internal Auditors (IIA) is a nonprofit, professional organization dedicated to advancing the internal auditing profession worldwide. It was established in 1941 and is headquartered in the United States. The IIA operates as a global authority on internal auditing standards, education, research, and certification.

Mission and Role

The IIA's mission is to provide dynamic leadership for the global profession of internal auditing. It focuses on several key areas:

• Advocacy and Promotion: Advocating and promoting the value that internal audit professionals add to their organizations.
• Education and Development: Providing comprehensive professional educational and development opportunities, standards and other professional practice guidance, and certification programs.
• Research and Knowledge Sharing: Researching, disseminating, and promoting knowledge concerning internal auditing and its appropriate role in control, risk management, and governance.
• Best Practices Education: Educating practitioners and other relevant audiences on best practices in internal auditing.
• Global Networking: Bringing together internal auditors from all countries to share information and experiences.

Certifications and Standards

The IIA offers several certifications recognized as expert-level standards for competency and professionalism in the internal audit field. These include:

• Certified Internal Auditor (CIA): The organization's premier certification.
• Certification in Risk Management Assurance (CRMA): An advanced certificate focused on risk management.
• Internal Audit Practitioner (IAP): Designed for new auditors and students.

The IIA also develops and publishes standards for internal auditing professionals to follow.

Membership and Global Presence

The Institute of Internal Auditors has more than 260,000 members worldwide. Its membership includes professionals working in internal auditing, risk management, governance, internal control, information technology audit, education, and security. The IIA has a significant presence in North America, with nearly 150 chapters serving members in the United States, Canada, and the Caribbean.

History

Historically, internal auditing can be traced back to ancient practices where merchants verified goods. However, modern internal auditing began to take shape in the 19th and 20th centuries as corporate business expanded. The establishment of the IIA in 1941 marked a significant milestone in the formalization and professionalization of internal auditing. The organization grew rapidly from its initial 24 members to become a global body.

Impact on Business and Governance

Internal auditing plays a critical role in ensuring organizational governance, risk management, and internal controls are effective. The IIA supports these functions by providing resources and guidance that help organizations improve their operations and mitigate risks. Through its members, the IIA contributes to enhancing corporate governance, compliance, and ethical business practices.

[1] https://www.theiia.org/en/about-us/ [2] https://www.investopedia.com/terms/i/institute-of-internal-auditors.asp [3] https://www.icgn.org/institute-internal-auditors [4] https://jobstars.com/professional-associations/institute-of-internal-auditors/ [5] https://charterediia.org/content-hub/blogs/what-is-internal-audit/