International Professional Practices Framework (IPPF) Overview

Front

What is the purpose of the International Professional Practices Framework (IPPF)?

Back

The IPPF provides authoritative professional guidance for the internal audit profession, ensuring effective delivery of internal audit services.

Front

What are the essential components of the IPPF?

Back

The IPPF consists of Mandatory Guidance (Mission, Core Principles, Definition, Code of Ethics, Standards) and Recommended Guidance (Implementation Guidance, Supplemental Guidance).

Front

What is the Mission of Internal Audit according to the IPPF?

Back

To enhance and protect organizational value by providing risk-based and objective assurance, advice, and insight.

Front

List three Core Principles for the Professional Practice of Internal Auditing.

Back

1. Demonstrates integrity. 2. Is objective and free from undue influence. 3. Aligns with the strategies, objectives, and risks of the organization.

Front

What does the Code of Ethics aim to promote in internal auditing?

Back

The Code of Ethics aims to promote an ethical culture in the profession of internal auditing.

Front

What are the four principles of the Code of Ethics?

Back

1. Integrity 2. Objectivity 3. Confidentiality 4. Competency

Front

What is the purpose of the Standards in the IPPF?

Back

The Standards guide adherence to mandatory elements of the IPPF, provide a framework for internal auditing services, and establish evaluation criteria for internal audit performance.

Front

What are Attribute Standards in the IPPF?

Back

Attribute Standards address the attributes of organizations and individuals performing internal auditing.

Front

What is the significance of the Three Lines of Defense Model?

Back

The Three Lines of Defense Model provides a framework for risk management and internal control, clarifying roles and responsibilities.

Front

What is required for external assessments of internal audit activities?

Back

External assessments must be conducted at least once every five years by a qualified, independent assessor or assessment team.