Institute of Internal Auditors Croatia, continuing its successful practice so far, is, this year, organizing the 13th International Conference of Internal Auditors - "Meeting the New Standards" .

In today's rapidly changing, global world, the existence of an efficient and effective internal audit becomes a necessity and a key factor in successful corporate governance. Because the conduct of internal audit engagements is vital to good governance, the board's primary responsibility is to ensure that the internal audit function is successful. But how can the board determine if it really is?

Internal audit standards are the primary mechanism that ensures that internal auditors consistently and accurately provide services in a timely, efficient and effective manner.

After almost two years of research, discussions, surveys and harmonization, the IIA published new Global Internal Audit Standards at the beginning of January 2024. Their creation was a historic undertaking, and a significant step in shaping the profession in the years to come.

The speed of change, new technologies and significant transformations of the business environment required more than the mere harmonization of standards, usually carried out every five years. Courage, vision and a complete redefinition of the existing standards published in 2017 were necessary.

Along the way, numerous internal auditors, audit committees, chief auditors and numerous institutes of internal auditors around the world gave their thoughts and suggestions, all with the aim of including the requirements of different sectors and different local and regional specificities.

You will be able to find out what that path looked like and what are all the innovations that Global Standards bring through domains and principles, from the guest lecturer at this year's conference, Hans-Peter Lerchner , CISA, CIA, CRMA, member of IIA Standards Board .

The new Global Standards present a flexible framework adaptable to the unique needs of internal auditors in different parts of the world, seeking to envision a future in which internal audit will lead, not adapt.

Although the year 2024 will be marked by the introduction and adaptation of internal audit functions to new, global standards, which come into force at the beginning of January 2025, internal auditors must continue to provide assurance and advise to their organizations on how to respond to the new risks brought by technology-driven, innovation-driven oriented and uncertain future.

The most successful internal audit functions will know how to adapt to new requirements, respond to all stakeholder needs, and find time and resources for their own development and innovation.

Participate in this year's IIA Croatia conference to jointly try to answer the question: What do the new Standards bring to us, how best to adapt and realize the vision of internal audit as a dynamic, influential profession? 

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