The IPPF project

1
The IPPF project

• Timeline and Status report

2
Principal Milestones
July 14, 2007 The IIA Global Board
Meeting Amsterdam, The Netherlands
July 12, 2008 The IIA Global Board Meeting San
Francisco, USA
August to December 2008
August 2007
January 2008
March 2008
April 2008 To June 2008 2008
January 2009
International
Approval of the IPPF Structure processes
Starting of The retooling of the current PPF
Public exposure of the Standards with
their interpretations
End of public exposure
Finalization of Retooling of Standards Practices
advisories Position papers Practice guides
Approval of IPPF
Translation
3
IPPF Project organization

• The project is divided in 8 major task groups
• Retooling of the Standards
• Retooling of the Code of Ethics
• Retooling of the Practice Advisories
• Retooling of the Position Papers
• Retooling of the Practice guides
• Translation
• Layout and distribution
• Communication and Marketing

4
IPPF Project Oversight

• The oversight of the IPPF project is ensured by
  the Professional Practices Council (PPC)
• The PPC, Chaired by the Vice Chair of
  Professional Practice comprises the chairmen of
  the following technical committees
• Internal Audit Standards Board IASB
• Ethics Committee
• Professional Issues Committee PIC
• Advance Technology Committee ATC
• Committee on Quality - COQ

5
Review of each task group key features
6
Standards

• Drafting of the interpretation to the standards
  contracted to 2 past IASB chairmen
• Delivery due Date October 5
• Extraordinary IASB meeting for review October
  19 20
• Public exposure planned for January 2008

7
Code of Ethics

• Committee reviewed the current code of Ethics
• The ethics committee decided that no changes to
  the Code of Ethics is needed at this stage
• The current code with be included in the IPPF as
  is.

8
Practice Advisories (PAs)

• 83 PAs have been sorted out by PIC in July 2007
• Working teams have been identified.
• Assignment in progress
• Completion deadline March 2008

9
Position Papers

• 6 existing position papers have been identified.
• Preliminary analysis and disposition table has
  been prepared
• Working teams have been identified
• Assignment in progress
• Completion deadline March 2008

10
Practice Guide

• 8 GTAGs, role of auditing in the public sector,
  Sox section 404 a guide for Management and the
  GAIT methodology have been pre-identified as
  potential practice guides.
• Working teams have been identified
• Assignment in progress
• Completion deadline March 2008

11
Translation

• The IPPF will be released in January 2009 in 3
  languages
• English
• Spanish
• French

12
Layout and distribution

• The layout and distribution task force is
  developing the distribution strategy to ensure
  that the IPPF will be available and accessible by
  practitioners around the world seamlessly.

13
Communication

• The communication on the IPPF is divided in 2
  principal areas
• Communication about the project
• Communication about the outcomes
• The IIA is a standard setting body
• Roll-out of the new IPPF in January 2009