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A88611 1 (2007-04-30)

handle is hein.gao/gaobadvvr0001 and id is 1 raw text is: A 0 Comptroller General Accountability * Integrity * Reliability of the United States United States Government Accountability Office Washington, DC 20548 April 30, 2007 Brenda D. Lovell, CIA Vice President, Knowledge Management The Institute of Internal Auditors 247 Maitland Avenue Altamonte Springs, FL 32701 Subject: Exposure Draft of Proposed Changes to the Professional Practices Framework This letter provides the U.S. Government Accountability Office's (GAO) comments on the Institute of Internal Auditors' (11A) Exposure Draft of Proposed Changes to the Professional Practices Framework. We appreciate the opportunity to comment on an issue of such importance for the accountability community. We commend the IIA for taking on this project to realign the Professional Practices Framework to address changes in the internal auditing profession over the past few years. We applaud the IIA's decision to include detailed practical guidance to meet the requirements of Standard 1300 - Quality Assurance and Improvement Program within the proposed International Professional Practices Framework (IPPF). An audit organization's quality assurance and improvement program is essential to providing high-quality auditing. It is therefore fundamentally important that auditors have a common set of standards and guidance for implementing an effective quality assurance and improvement program. Including the Quality Assurance and Improvement Guidance as a distinct element in the IPPF gives it credibility and focus. We agree with the IIA's current practice of issuing auditing standards at a principles- based level and the decision to not issue engagement specific implementation standards dealing with specific industries, subjects, or programs under audit. We believe that the application of the standards for engagement specific audits, such as environmental auditing, should be issued in related guidance, such as the IIA's Position Papers and Practice Guides. Accordingly, we also agree with including Position Papers and Practices Guides as endorsed and strongly recommended in the IPPF. These documents provide useful guidance for auditors in applying the auditing standards. Including them in the IPPF gives them enhanced prominence that will encourage increased implementation.

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