The IPPF project Timeline and Status report

Principal Milestones July 14, 2007 The IIA Global Board Meeting Amsterdam, The Netherlands Approval of the IPPF Structure & processes August 2007 January 2008 March 2008 April 2008 To June January 2009 Starting of The retooling of the current PPF Public exposure of the Standards with their interpretations End of public exposure Finalization of Retooling of Standards Practices advisories Position papers Practice guides August to December 2008 July 12, 2008 The IIA Global Board Meeting San Francisco, USA Approval of IPPF Translation International

IPPF Project organization The project is divided in 8 major task groups –Retooling of the Standards –Retooling of the Code of Ethics –Retooling of the Practice Advisories –Retooling of the Position Papers –Retooling of the Practice guides –Translation –Layout and distribution –Communication and Marketing

IPPF Project Oversight The oversight of the IPPF project is ensured by the Professional Practices Council (PPC) The PPC, Chaired by the Vice Chair of Professional Practice comprises the chairmen of the following technical committees –Internal Audit Standards Board – IASB –Ethics Committee –Professional Issues Committee – PIC –Advance Technology Committee – ATC –Committee on Quality - COQ

Review of each task group key features

Standards Drafting of the interpretation to the standards contracted to 2 past IASB chairmen Delivery due Date October 5 Extraordinary IASB meeting for review – October 19 & 20 Public exposure planned for January 2008

Code of Ethics Committee reviewed the current code of Ethics The ethics committee decided that no changes to the Code of Ethics is needed at this stage The current code with be included in the IPPF as is.

Practice Advisories (PAs) 83 PAs have been sorted out by PIC in July 2007 Working teams have been identified. Assignment in progress Completion deadline: March 2008

Position Papers 6 existing position papers have been identified. Preliminary analysis and disposition table has been prepared Working teams have been identified Assignment in progress Completion deadline: March 2008

Practice Guide 8 GTAGs, role of auditing in the public sector, Sox section 404 a guide for Management and the GAIT methodology have been pre-identified as potential practice guides. Working teams have been identified Assignment in progress Completion deadline: March 2008

Translation The IPPF will be released in January 2009 in 3 languages –English –Spanish –French

Layout and distribution The layout and distribution task force is developing the distribution strategy to ensure that the IPPF will be available and accessible by practitioners around the world seamlessly.

Communication The communication on the IPPF is divided in 2 principal areas –Communication about the project –Communication about the outcomes The IIA is a standard setting body Roll-out of the new IPPF in January 2009