GIAS - Domain III Part 1 - Global Internal Audit Standards
Field: Auditing | Delivery Method: Self Study | CPE Hours: 2.5
This segment is dedicated to Domain III and the Standards related to Authorized by the Board and Positioned Independently . This segment focuses on Governing the Internal Audit Function. Domain III offers what is likely the most dramatic change in the Global IA Standards. For the first time, standards for the IA profession will include direction and responsibilities for the board. Domain III outlines several standards for the board that:
- Authorize the IA function.
- Ensure and safeguard its independence and positioning within the organization.
- Establishes the board’s responsibilities for overseeing the quality of the performance of both IA and the chief audit executive.
- The Global Standards are organized into five domains.
- Domain I: Purpose of Internal Auditing
- Doman II: Ethics and Professionalism.
- Domain III: Governing the Internal Audit Function
- Domain IV: Managing the Internal Audit Function
- Domain V: Performing Internal Audit Service
- Standard 1.1 Honesty and professional courage
- Standard 1.2 Organizations’ Ethical Expectations
- Standard 1.3 Legal and Ethical Behavior
Principle Two – Maintain Objectivity
- Standard 2.1 Individual objectivity
- Standard 2.2 Safeguarding objectivity
- Standard 2.3 Disclosing Impairments to objectivity
- Standard 3.1 Competency
- Standard 3.2 Continuing professional development.
- Standard 4.1 Conformance with Global IIA Standards
- Standard 4.2 Due Professional Care
- Standard 4.3 Professional Skepticism
- Standard 5.1 Use of Information
- Standard 5.2 Protection of Information
- Evaluate Domain III – Governing the IA Function
- Examine Principle 6 – Authorized by the Board
- Evaluate Standard 6.1 IA Mandate
- Evaluate Standard 6.2 IA Charter
- Evaluate Standard 6.3 Board and Senior Management Support
- Examine Principle 7 – Positioned Independently
- Evaluate Standard 7.1 – Organizational independence.
- Evaluate 7.2 – Qualifications of the CAE
Field: Auditing
Delivery Method: Self-Study
CPE: 2.5
Format: Video
Your Instructor
Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive
Business Consultant, Trainer, Author
Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.
As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.
Ms. Fountain has authored three technical publications:
-Leading the Internal Audit Function
-Raise the Red Flag
-Ethics and the Internal Auditor's political dilemma
Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.
Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.