The updated edition provides internal auditors with guidance on how to put into pracitce the IPPF. The original edition of this book (2002) offered guidance on how to apply the set of Internal Standards for the Professional Practice of Internal Auditing, which first became effective January 1, 2002. Subsequent editions (2006, 2009, and 2011) reflected changes in the Standards as well as the framework for internal audit guidance - the IPPF - which was released in 2009.

This fourth edition represents a major restructuring of the earlier works, reflectin the new IPPF and Internal Audit Mission Statement, which came out in 2015 and introduced the Core Principles and Implementation Guides. It reflects the 2017 revision to the Standards and looks at internal audit application of the IPPF through a maturity model lens and from the perspective of small audit departments.

This useful guide serves as a "crash course", outlining the specific actions auditors must take to conform the Standards and the other elements o the IPPF. It provides:

• Further explanations of meanings behind the principles-based Standards
• Practical tools and techniques for delivering high-quality internal audit service
• Examples of leading practices in implementing the Standards and best practice internal auditing
• Discussion of trends and various points of view on topics core to the profession

The internal audit profession is at new heights of organizational investment and stature. Its importance is widely recognized by boards, audit committees, and management. The fact that the profession has one global set of standards, united across the world, that have been embraced by many regulators, legal systems,and governance bodies shows the strength of this foundation.