1. www.globaliia.org Presentation to the INTOSAI PSC May 2014 Phil Tarling, CIA, CRMA, CMIIA Past Chairman of the IIA Board Developing The International Standards for the Professional Practice of Internal Auditing

2. www.globaliia.org Agenda Development -Due Process -Standard-Setting Process -Operating Procedures -Administrative Support Ensuring External Stakeholder Perspective

3. www.globaliia.org IIA STANDARDS DEVELOPMENT

4. www.globaliia.org Due Process BOARD OF DIRECTORS Chairman, member volunteer EXECUTIVE COMMITTEE VC-Professional Guidance, member volunteer Professional Guidance Advisory Council (PGAC) VC – Professional Guidance (see above), Chair VP – Professional Guidance, staff liaison IIASB Chair, member volunteer Director Standards & Guidance, staff liaison IPPF OVERSIGHT COUNCIL (IPPF OC) Chair, member volunteer VP Professional Practices, staff liaison

5. www.globaliia.org International Internal Audit Standards Board - IIASB Develops, issues, maintains, and promotes the Standards 14 members representing IA profession and its stakeholders Cross-section of geographic areas & industries Broad experience Senior-level

6. www.globaliia.org Standard-Setting Process Developed and updated by IIASB 90-day exposure period distributed to members, stakeholders, and other professionals Incorporates review of Global Ethics Committee to ensure compliance with IIA’s Code of Ethics

7. www.globaliia.org Standard-Setting Process Final approvals –IIASB and IPPF Oversight Council –Requires approval 2/3 membership for each –Substantive disagreement arbitrated by Global Board of Directors or designated committee Reviewed every 3 years to remain current, relevant and timely

8. www.globaliia.org IIASB Operating Procedures 5 Subcommittees based on topic -Chair and 3-4 members Coordination and Communication -2 face-to-face meetings per year -2 quarterly web meetings with full board -Separate subcommittee web meetings as required -Regular communication via email

9. www.globaliia.org Administrative Support Designated staff liaison - Director, Standards and Guidance. Technical writers and editorial staff available

10. www.globaliia.org ENSURING EXTERNAL STAKEHOLDER PERSPECTIVE

11. www.globaliia.org Engaging External Stakeholders Serve on the IIASB -INTOSAI -Association of Chartered Certified Accountants (ACCA) 90 Day Exposure Process IPPF Oversight Council

12. www.globaliia.org QUESTIONS