A CONSULTATION on the first set of public sector internal audit standards has been launched by CIPFA and the IIA.
The collaboration between the two institutes – previously announced in May 2011 – led to an agreement between various government bodies to develop UK public sector internal audit standards (PSIAS).
The PSIAS have been based on the mandatory elements of the IIA’s international professional practices framework and it is proposed that they will apply across the UK to central and local government and the NHS (excluding foundation trusts), with the opportunity for other areas of the public sector to adopt them.
They have been reviewed by the Internal Audit Standards Advisory Board (IASAB) which was formed in March 2012 to provide oversight and challenge for the development of the standards.
It is currently proposed that PSIAS will come into force from 1 April 2013 and will provide a coherent and consistent public sector internal audit framework, coordinated update process and public sector voice in IIA standard setting.
The consultation runs until 14 September and the documents can be obtained by emailing email@example.com
Simon Wright of CareersinAudit.com discusses how an effective cyber defence force is critical to businesses worldwide and how internal auditors can make the transition to a new career in cyber security
The FRC has said that the investigation will 'consider, but not be restricted to, issues regarding misstated accounting balances'
Craig Maxwell joins the audit and assurance team in Scotland
Stephen Grayson to join the audit department in Manchester