Associate Partner
Global Internal Audit Standards (GIAS): New standards for internal auditing in effect
- From the Newsletter "Reporting Trends & Solutions", Issue 2/2025
On January 9, 2024, the Institute of Internal Auditors (IIA) published the new Global Internal Audit Standards (GIAS), replacing the International Standards for the Professional Practice of Internal Auditing that had been in effect since 2017. The GIAS are binding and, together with the Topical Requirements (mandatory) and Global Guidance (supplementary), form the International Professional Practices Framework (IPPF), a framework that defines internationally consistent standards for the internal audit profession.
A German translation of the GIAS was published by the German Institute for Internal Auditing (DIIR).
The GIAS consists of the following five areas (domains):
- Domain I: Purpose of Internal Auditing
- Domain II: Ethics and Professionalism
- Domain III: Governing the Internal Audit Function
- Domain IV: Managing the Internal Audit Function
- Domain V: Performing Internal Audit Services
The five domains are in turn divided into 15 principles and a total of 52 specific standards.
The new standards result in various changes that may have an impact on internal auditing in individual companies. These include, among other things, extended requirements for external quality assessments and new reporting requirements.
Companies had twelve months from the publication of GIAS to adapt their internal audit functions and implement GIAS. The new requirements must now be met by January 9, 2025. To ensure that all requirements are met, we recommend first conducting a gap analysis and then using this as a basis for drawing up a concrete implementation plan. In the interests of optimal and smart implementation, it is advisable to seek advice and support from experts.