Dutch Journal of Finance and Management

Dutch Journal of Finance and Management, 2025 - Volume 8 Issue 2, Article No: 40226
https://doi.org/10.55267/djfm/17773

Published Online: 21 Jan 2026

Views: 63 | Downloads: 36

The mandatory implementation of the Global Internal Audit Standards issued by the Institute of Internal Auditors (IIA) in 2024 marks a significant transformation in the regulation and practice of internal auditing worldwide, particularly in developing-country contexts. This study provides a comparative analysis of the 2017 International Professional Practices Framework (IPPF) standards and the 2024 Global Internal Audit Standards, with a focus on structural changes, conceptual evolution, and implementation challenges. Methodologically, the study employs a qualitative documentary analysis, combined with a descriptive and comparative approach. It analyzes official IIA standards and supporting documents, complemented by professional reports and recent peer-reviewed academic literature published between 2022 and 2025. The findings reveal that the 2024 Standards introduce a unified, principle-based framework that strengthens governance integration, quality management, stakeholder engagement, and the strategic role of internal audit, while embedding emerging priorities such as digital transformation, sustainability, and risk-based value creation. However, the analysis also indicates that the increased prescriptiveness and strategic expectations of the 2024 Standards pose significant implementation challenges in developing countries, where institutional maturity, regulatory support, technological readiness, and professional capacity often remain limited. The study contributes to the internal auditing literature by providing a critical synthesis of the evolution of global internal audit standards and by advancing an interpretive, context-sensitive perspective on their adoption in developing-country contexts. It provides insights for Chief Audit Executives, regulators, and policymakers on how to balance global standardization with contextual adaptation, capacity building, and phased implementation strategies.

Global Internal Audit Standards Documentary analysis Comparative study Implementation challenges Developing countries

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