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The IPPF project

Timeline and Status report

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Principal Milestones

July 14, 2007The IIA Global

Board MeetingAmsterdam,

The Netherlands

Approval of the IPPF

Structure & processes

August 2007

January 2008

March 2008

April 2008 To June 2008

2008

January 2009

Starting of The retoolingof the current

PPF

Public exposureof the

Standardswith their

interpretations

End of public

exposure

Finalization ofRetooling ofStandards

Practices advisoriesPosition papersPractice guides

Augustto December

2008

July 12, 2008The IIA Global

Board MeetingSan Francisco,

USA

Approvalof IPPF

Translation

International

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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

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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

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Review of each task group key features

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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

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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.

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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

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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

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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

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Translation

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

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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.

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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