Infographic- Internal Audit: Notable IA Milestones

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  • 1977








    April 2010

    Passage of UK Bribery Act

    July 2002 Passage of the Sarbanes-Oxley Act

    Creation of the Public Company Accounting Oversight Board (due to passage of the Sarbanes-Oxley Act)

    November 2003

    New York Stock Exchange (NYSE) passes Section 303A requiring listed companies to have an internal audit function

    December 1977

    Passage of the Foreign Corrupt Practices Act (FCPA)

    FUTUREMay 2013

    COSO updates Internal Control Integrated Framework (New Framework)

    January 2013

    IIA issues revised IIA Standards

    September 2008

    Significant bank failures occur (e.g., Lehman Brothers)February 2010

    SEC requires disclosure of boards role in board risk oversight process (Proxy Disclosure Enhancements)

    September 1992

    Passage of 1992 COSO Internal Control Integrated Framework

    January 2011

    IIA issues revisedInternational Professional Practices Framework (IPPF)

    Notable Internal Audit Milestones

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