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Call for consultation. The Internal Audit Code of Practice is ready for your review


The Chartered Institute of Internal Auditors this week released draft Code of Practice and sought feedback from audit professionals and the wider community on the proposed Code. The Code, in my opinion, is a much needed document, especially in light of the recent high profile collapses such as Carillion.


However, the potentially new Code faces some big challenges if it wishes to become fully effective, although I am sure the Institute can meet the challenges. As Brendan Nelson highlights in the Foreward to the draft Code, in the two years since the introduction of the Finance Services Code, there has been substantial improvement in how internal audit is viewed in an organisation.