Voice of the CEO: Milestones, Growth, and Gratitude

As the year comes to a close, I’d like to take a moment to recognize and celebrate some of the incredible accomplishments that made it such an exciting and transformative year for the internal audit profession.

Introducing the New Global Internal Audit Standards. In January, we released the new Global Internal Audit Standards, which will become effective Jan. 9, 2025. This global effort involving the International Internal Audit Standards Board, all IIA institutes, and thousands of stakeholders, revised the Standards to provide a comprehensive approach to internal auditing that will help practitioners provide the most value to stakeholders.

Over the past year, the new Standards have been translated into 24 languages and downloaded nearly 600,000 times. To help raise awareness and encourage early adoption of the new Standards, we offered a portfolio of resources and supporting activities throughout the year, including a complete report summarizing the project, webinars, virtual and in-person courses, conference sessions and workshops, and speaking engagements.

While the update of the Standards was a historic milestone, it’s just one part of the evolution of the International Professional Practices Framework. Additionally, we published several updated and new Global Guidance resources, including a new Quality Assessment Manual, and developed the first Topical Requirement on Cybersecurity, which will be available in multiple languages on Feb. 5. This is the first of several Topical Requirements, setting a consistent baseline and mandatory only if a risk assessment leads to the topic’s inclusion and an assurance opinion is issued. We feel confident that these resources will help internal auditors navigate the increasingly complex risk landscape and stakeholder expectations they face.

As a result of the successful rollout of the new Standards, The American Society of Association Executives honored The IIA with a Power of Associations Gold Award in its Power of Industry and Professional Advancement category. This category recognizes associations that have made a positive and measurable contribution toward professional advancement within their industry, underscoring the enormous impact the new Standards’ launch has had on the industry.

Strengthening Global Partnerships. Fostering global collaboration and deepening strategic partnerships was a top priority this year. We are thrilled to have extended our memorandum of understanding with the U.K.-based Association of Chartered Certified Accountants, which allows us to continue working together to advance our respective professions through initiatives that serve the public interest.

Advocacy Wins. Our Advocacy team has continued to defend and promote the interests of the internal audit profession among lawmakers and public officials.

For our North American Advocacy team that has meant walking the halls of Congress, educating policymakers and their staff, and making policy recommendations to legislators and regulators. I had the opportunity to represent The IIA in a joint letter to the House of Commons of Canada Standing Committee on Public Safety and National Security regarding the proposed Critical Cyber Systems Protection Act, as well as offer recommendations to the U.S. Senate regarding the Validation and Evaluation for Trustworthy AI Act. Additionally, The IIA collaborated with the Public Company Accounting Oversight Board on developing potential amendments to Audit Standard 2605: Consideration of the Internal Audit Function.

Our Global Advocacy team has focused on creating resources for IIA national institutes, assisting leaders with official letters and responses to parliamentary committees, and supporting institutes as they build relationships with policymakers worldwide to further elevate the profession. The IIA recently published its Global Public Policy Position Paper, our profession’s model legal and regulatory framework that serves as a roadmap for national institutes as they engage with policymakers. In partnership with AFIIA, we also created the African Government Recognition Working Group and wrote the draft Internal Audit Model Act, designed to help national institutes as they seek to pass legislation in their respective countries (comments due Jan. 29, 2025).

Growing the Talent Pipeline. This year we sharpened our efforts to reach students, educators, and young professionals exploring internal auditing as a career. In April, we released the Fueling the Internal Audit Student Talent Pipeline: Perspectives from Educators and Practitioners report, which examines how organizations find and develop the next generation of internal auditors.

We also reached a historic milestone with the growth of our Internal Auditing Education Partnership program and Internal Audit Awareness Program, which now encompass more than 140 schools globally. This year, we also saw the largest year-over-year increase in total partnerships, as the programs added a combined 20 schools and expanded into Mongolia, Pakistan, Peru, Philippines, Romania, Singapore, and Somalia.

Vision 2035. I had the honor of unveiling the groundbreaking report, Vision 2035: Creating Our Future Together, at this year’s International Conference. This collaborative project was the culmination of more than a year of planning and research in which we heard from practitioners, stakeholders, regulators, educators, and students from around the world.

Importantly, Vision 2035 explored the growing need for internal auditors to adopt a more strategic advisory role, in addition to providing compliance and assurance services. This shift is one that will become increasingly important for the profession to remain valuable and relevant to organizations, particularly as the risk landscape continues to grow in complexity. I am incredibly proud of our work on this initiative, which will shape many of our strategic priorities in the years ahead.

Enhancing Our Certifications. This year, we celebrated awarding 200,000 CIA certifications to people in over 160 countries. We also commemorated the 50th anniversary of the CIA. These milestones underscore the extent to which the CIA designation has become synonymous with excellence, setting the gold standard in internal auditing globally.

I am also incredibly proud of the work we have done to enhance our professional certifications. Efforts are underway to streamline the CIA syllabus to better align with the current global practice of internal auditing and the new Standards. The new syllabus also will reflect the feedback we have received to clarify the knowledge, skills, and abilities candidates will need to prepare for the exam.

Celebrating a Great Year

These highlights are just a portion of The IIA’s accomplishments this year. They demonstrate a firm commitment to a bright future, not just for The IIA, but also for the internal audit profession. They also demonstrate the deep engagement of our members and our incredible IIA HQ staff, as well as our Global and North American Boards. I’d like to thank our past chair of the Global Board, Sally-Anne Pitt, and our current chair of the Global Board, Terry Grafenstine, for their leadership over the past year and for bringing their unique perspectives to our members around the world.

As we enter 2025, let us build on the momentum of our achievements, guided by our strengthened strategic focus, shared vision, and dedication to excellence. Together, we will continue to break new ground, foster innovation, and shape the future of the internal audit profession.

Thank you for everything you do. I wish you and your loved ones a safe, healthy, and happy holiday season.