On the Frontlines:
Revising Our Internal Audit Manual
Blogs Abdul Qadir Khadiawala, FCCA, CIA Jul 22, 2025

The 2024 release of the Global Internal Audit Standards by the IIA introduced a shift from a rules-based model to a principles-based framework, promoting adaptability, resilience, and strategic alignment within the internal audit function.
In my company, where I serve as senior manager of internal audit, I am not only responsible for executing assigned audit engagements, but I hold an additional role as quality reviewer, serving as an advisor to the CAE on quality-related matters. In this capacity, I conduct post-engagement quality reviews of all audits performed by my colleagues to ensure overall quality, consistency in the application of audit methodology, adequacy of documentation, and the effectiveness of each engagement. Furthermore, I am responsible for the periodic review and updating of our governing documents, including the internal audit manual. This manual includes documentation of the methodologies (policies, processes, and procedures) that guide and direct internal auditors within the internal audit function.
When our CAE tasked us to fully align the internal audit manual with the revised Standards, it was challenging at first. However, The IIA’s resources proved to be invaluable in guiding us through the process. This journey provided an opportunity to advance internal audit’s position as a strategic and value-adding business partner.
We chose the month of May, which is globally recognized as Internal Audit Awareness Month to intensify our focus and complete the revision of our manual. Subsequently, we plan to conduct a periodic review every May to ensure continued alignment with evolving standards and best practices.
As part of team development, the CAE assigned a recently graduated co-op trainee to assist me. This served as a valuable learning experience for her to build a strong foundation in internal audit. Before initiating any structural changes, we began by ensuring we understood the expectations of internal audit leadership. Their direction helped us formulate a manual that not only complies with standards but also adapts to our revised internal audit strategy.
Learning and Building the Foundation
We began by attending several IIA-hosted webinars to understand the new Standards in depth. We also leveraged The IIA’s two-way mapping tool to assess differences between our existing manual and the new Standards. Importantly, our updates also reflected local regulatory requirements specific to our business environment, ensuring practical relevance alongside global alignment. Ultimately, we used a three-phased approach to transforming the manual:
1. Breakdown and Mapping
We broke down the existing manual into a table format, making it easier to map each component against the Standards’ structure. This visual approach allowed us to identify content gaps, outdated practices, and areas needing enhancement.
The tabular version has since evolved into a dynamic tool. It will serve as a checklist for our ongoing monitoring and periodic self-assessment and will be central in our upcoming external Quality Assurance and Improvement Program review.
2. Realignment and Customization
We restructured and rewrote the manual using the new Standards framework as a guide. The revised version is now organized around:
- 5 Domains
- 15 Principles
- 52 Standards
Our approach involves listing each of the principles and Standards exactly, then documenting how our internal audit function implements each specific requirement. This approach helps us ensure completeness, traceability, and clarity for our team.
It also integrates our internal audit methodology covering planning, execution, reporting, and follow-up, and we incorporated several good practices that were being followed informally but had never been formally documented in the manual before.
As part of this process, we carefully referred to and incorporated local corporate governance requirements — particularly those related to internal audit and our company’s Code of Conduct. This dual focus strengthens our commitment to ethical behavior, compliance, and accountability across all audit activities.
3. Review, Approval, and Knowledge Sharing
The revised manual has been finalized, reviewed by the CAE, and approved by the audit committee. We plan to present a summary to our entire internal audit team during the upcoming annual internal audit gathering, which is also attended by our global team. This will help enhance their understanding, promote consistency in applying the Standards, and ensure everyone is aligned with the new methodology.
Through embracing the Global Internal Audit Standards, we have transformed our internal audit manual into a dynamic and forward-looking resource that promotes consistent application of best practices. This advancement marks an initial step toward fulfilling internal audit’s purpose of enhancing governance, risk management, and control.
The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of The Institute of Internal Auditors (The IIA). The IIA does not guarantee the accuracy or originality of the content, nor should it be considered professional advice or authoritative guidance. The content is provided for informational purposes only.