This revised edition has been updated through consultation with past and present users of the IA-CM and global internal audit thought leaders. It reflects leading developments in governance, business and risk management, and the internal audit profession to ensure that it is relevant, useful, practical, and forward-thinking.
The context was revised in detail and revisions were made throughout, including the detailed key process areas (KPAs), to reflect current and evolving professional development, practices, and innovative concepts, including:
- The IIA’s International Professional Practices Framework (IPPF)
- Internal audit’s role and relationship with control and risk functions in an organization’s three lines of defense.
- The importance of fostering and strengthening internal audit stakeholder relationships.
- Internal audit’s enhanced leveraging of knowledge management systems and information technology.
This revised edition now includes a comprehensive Online Assessment Tool designed to assist internal audit activities and their stakeholders effectively apply the IA-CM. It can be used by senior management, stakeholders, and legislators to evaluate the type of activity and develop a strategy that is appropriate for their organizations or jurisdictions.
About the Authors:
Elizabeth (Libby) MacRae, CGAP, was the lead researcher and principal author of the Internal Audit Foundation’s publication Internal Audit Capability Model (IA-CM) for the Public Sector. She has extensive internal audit practitioner experience developed through her more than 30 years in the Government of Canada.
Bruce C. Sloan, CPA, CA, CRMA, has extensive public sector experience developed through more than 30 years in the Government of Canada, where he served with the Office of the Auditor General leading a broad range of performance audits, including many government-wide assessments of internal audit.