1. Following Up on Internal Audit Reports Workshop on IIA Standard 2500

3. The new IPPF framework
Effective Date:
1st January 2017

4. IPPF - The Changes Explained
Changes to the IPPF

5. Summary of the main IPPF changes
The Mission of Internal Audit and the Core Principles for the Professional Practice of Internal Auditing are new elements of the IPPF.
Implementation Guidance replaced all the existing Practice Advisories. Members continued to use Practice Advisories to support conformance with the Standards until such time as new Implementation Guides were issued.
Various New Implementation Guides issued.
Supplemental Guidance: All Practice Guides, Global Technology Audit Guides (GTAGs), and Guides to the Assessment of IT Risks (GAIT) automatically become part of the recommended Supplemental Guidance layer.

6. Mission and Core Principles
To enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight.
Demonstrates integrity.
Demonstrates competence and due professional care.
Is objective and free from undue influence (independent).
Aligns with the strategies, objectives, and risks of the organization.
Is appropriately positioned and adequately resourced.
Demonstrates quality and continuous improvement.
Communicates effectively.
Provides risk-based assurance.
Is insightful, proactive, and future-focused.
Promotes organizational improvement.

7. Standards which were updated
1110
Organisational Independence
1311
Internal Assessment
1312
External Assessment
1320
Reporting on the Quality Assurance and Improvement Program
2010
Planning
2120
Risk Management
2130
Control
2220
Engagement Scope
2201
Planning Considerations
2210
Engagement Objectives
2440
Disseminating Results
2600
Communicating the Acceptance of Risks
Changes driven by a comparison of the previous standards to the new Core Principles
Other changes in wording were effected in the Standard Introduction and Definitions.

8. Standard 2500 – Monitoring Progress

9. Follow-up Internal Audit Assignments Introduction
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes
Definition of Internal Auditing, The Institute of Internal Auditors

10. Follow-up Internal Audit Assignments Standard 2500
The chief audit executive must establish and maintain a system to monitor the disposition of results communicated to management.
Standard 2500, International Standards for the Professional Practice of Internal Auditing

11. Follow-up Internal Audit Assignments Standard 2500
The chief audit executive must establish a follow-up process to monitor and ensure that management actions have been effectively implemented or that senior management has accepted the risk of not taking action.
Standard 2500.A1, International Standards for the Professional Practice of Internal Auditing
The internal audit activity must monitor the disposition of results of consulting engagements to the extent agreed upon with the client.
Standard 2500.C1, International Standards for the Professional Practice of Internal Auditing

12. Follow-up Internal Audit Assignments Implementation Guide: Tracking
Observations reported and their rating
Nature of agreed corrective action
Target dates for implementation
Process owner
Current status

13. Follow-up Internal Audit Assignments Considerations
Purpose
Responsibility
Follow-up process
Bespoke systems
Policies and Procedures
Targeting high priority risks
Following up recommendations/Management Actions, CIIA

14. Follow-up Internal Audit Assignments Success Factors
Examining responses
Communicating effectively
Sharing expectations