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The Institute of Internal Auditors North AmericaBreadcrumb SeparatorStandards and GuidanceBreadcrumb SeparatorResponses to Regulators and Oversight Bodies

​Responses to Regulators and Oversight Bodies

Formal IIA Contributions and Responses to Matters of Global Importance to the Profession

The IIA engages with regulators, oversight bodies, standard setters, policy makers, legislators, thought leaders, and others, and provides comments on exposure drafts of proposed standards, guidance, regulation, legislation, etc. that have the potential to impact the profession of internal auditing and how it is practiced. As described in The IIA Board Policy Manual, official statements on behalf of The IIA are designated by the Board of Directors. The Chairman of the Board and/or the President and CEO serve as spokespersons on all issues pertinent to the profession of internal auditing. For specific purposes, this responsibility may be delegated to other members or to staff.

The process of preparing and writing responses to other organizations is governed by a due diligence process described on The IIA website. See Structure and Processes for responses.

View The IIA's responses to exposure drafts and requests for comment from other organizations.

2019

​Date Organization​ Response​
​06-Aug-2019 ​US Senate Committee on Finance Response to Support for S.379
​05-Aug-2019 ​City of Brownsville, TX Response to Restoration of City Oversight and Audit Committee
​01-Aug-2019 ​AASB Response to Auditing Assurance Standards Board Exposure Draft on Assurance and Related Services Guidelines 50
​20-June-2019 ​IESBA Response to International Ethics Standards Board for Accountants on proposed revisions to Part 4B of the Code to Reflect Terms and Concepts Used in ISAE 3000 (Revised).
​20-June-2019 ​IAASB Feedback on draft guidance for applying ISAE 3000 (Revised) to extended external reporting (EER) assurance engagements.
​04-June-2019 ​IAASB Feedback on IAASB consultation paper Proposed Strategy for 2020-2023 and Work Plan for 2020-2021​
​20-May-2019 ​Department of Justice DOJ Criminal Division Guidance Document - Evaluation of Corporate Compliance Programs
​10-May-2019 ​Glendale, Arizona City Council Ordinance No. 019-43 -- Eliminating the office of City Auditor
​29-April-2019 ​OECD Working Group on Bribery should add internal audit to the OECD's 2009 Anti-bribery Recommendation
​24-April-2019 ​INTOSAI Response to Supreme Audit Institution guidance on auditing information systems and security
​27-March-2019 ​ICAI Response to the Institute of Chartered Accountants of India Exposure Drafts of Standards for Internal Audit
​27-March-2019 ​INTOSAI Response to the INTOSAI Working Group on Key National Indicators exposure draft on development and use of key national indicators.
22-Feb-2019​ ​INTOSAI–WGVBS Guidance for Supreme Audit Institutions on issue of Sustainable Development Goals (SDGs)

2018

Date​ ​Organization ​Response
​1-Nov-2018 ​IAASB Response to the International Auditing and Assurance Standards Board’s Proposed International Standards on Auditing 315 (Revised)
​15-Aug-2018 ​IESBA ​International Ethics Standards Board for Accountants (IESBA) response
19-July-2018​ IOSCO​​​ International Organization of Securities Commissions (IOSCO) Response regarding consultation report Good Practices for Audit Committees in Supporting Audit Quality.​​
​26-Feb-2018 ​Federal Reserve Response to Proposed Guidance Clarifying Expectations Related to Risk Management for Large Financial Institutions
​08-Feb-2018 Monitoring Group​ Response to Monitoring Group Consultation on Strengthening the Governance and Oversight of the International Audit-Related Standard-Setting Boards in the Public Interest
​16-Jan-2018 ​ICAI Response to ICAI Exposure on Framework and Standards on Internal Audit and Framework Governing Internal Audit

2017

​Date ​Organization ​Response
​18-Dec-2017 ​SASB Response to SASB Exposure Draft Standards
0​9-Oct-2017 ​Federal Reserve Response to Proposed Guidance on Supervisory Expectation for Boards of Directors
​23-Aug-2017 ​SEC ​Response to SEC Auditor's Report
​26-June-2017 U.S. (GAO) 2017 Updates to Generally Accepted Government Auditing Standards ("Yellow Book")
​31-May-2017 INTOSAI​ Response to Liaison with External Stakeholders
​29-April-2017 ​IIRC International Framework Implementation Feedback
​16-Jan-2017 OCC Enhanced Cyber Risk Management Standards

2016

​Date ​Organization ​Response
​7-Dec-2016 ​AICPA AICPA's Cybersecurity Risk Management Initiative
​26-Sept-2016 ​COSO Enterprise Risk Management — Aligning Strategy and Performance
​3-Aug-2016 ​INTOSAI New INTOSAI Framework of Professional Pronouncements
​18-May-2016 King IV​ Response to the King IV Corporate Governance Code
​13-May-2016 ​Environmental Protection Agency Risk Management Programs Under the Clean Air Act
​1-Feb-2016 ​INTOSAI Response ISSAI 30 Code of Ethics

2015

​Date ​Organization ​Response
​2-Nov-2015 ​U.S. Congress H.R. 3557, FSOC Transparency and Accountability Act
​7-Oct-2015 ​INTOSAI ​ISSAI 3000, 3100, & 3200 Performance Audit Standards
​21-Sept-2015 ​INTOSAI ISSAI 4000 Compliance Audit Standard
​8-Sept-2015 ​SEC Concept Release: Possible Revisions to Audit Committee Disclosures
​4-Sept-2015 ​IFAC Non-Compliance with Laws and Regulations
​5-Aug-2015 U.S. Congress​ IIA Statement to Senate Judiciary Committee
​3-June-2015 U.S. Congress​ ​IIA Statement, “Watchdogs Needed: Top Government Investigator Positions Left Unfilled for Years”
​9-Jan-2015 Basel Committee on Banking Supervision​ Corporate Governance Principles for Banks
​4-Jan-2015 ​OECD OECD Principles of Corporate Governance IIA Comments

2014

​Date ​Organization ​Response
​5-Dec-2014 ​International Integrated Reporting Council IIA Comment Letter—IIRC Assurance on IR Discussion
​22-Sept-2014 ​US Congress HR 5492, The Inspector General Empowerment Act of 2014
​15-Sept-2014 ​US Department of Defense Comment letter to proposal to amend Defense Federal Acquisition Regulations Supplement
​10-Sept-2014 ​US Congress The IIA’s Written Statement, House Oversight & Government Reform Committee
​28-March-2014 ​OCC ​OCC Proposed Guidelines Establishing Heightened Expectations for Large Banks
​31-Jan-2014 ​FSB FSB Risk Culture

2013

​Date ​Organization ​Response
​31-Dec-2013 ​ISACA ISACA IS Audit and Assurance Exposure Documents
​6-Dec-2013 ​NAIC Proposed Revisions to Incorporate an Internal Audit Function Requirement into NAIC Model
​25-Nov-2013 ​U.S. GAO ​GAO 2013 Exposure Draft Standards for Internal Control in the Federal Government
​30-Sept-2013 ​FSB FSB Principles for an Effective Risk Appetite Framework
​16-Sept-2013 ​IFAC/CIPFA Good Governance in the Public Sector – Consultation Draft for an International Framework
​29-July-2013 ​SEC New York Stock Exchange - Internal Audit Requirement
​12-July-2013 ​IIRC Consultation Draft of the International Framework
​12-July-2013 ​AICPA Proposed SAS - Using the Work of Internal Auditors
​8-July-2013 ​U.S. Congress ​H.R., Audit Integrity and Job Protection Act
​26-June-2013 ​INTOSAI ​Response to Exposure Draft ISSAI 5700 Guideline for the Audit of Corruption Prevention in Government Agencies
​21-June-2013 ​Basel Committee ​Response to the Basel Committee on Banking Supervision Consultative Document – "External audits of banks"
​3-June-2013 ​U.S. Congress "​The Unintended Consequences of Dodd-Frank’s Conflict Minerals Provision"
​30-April-2013 ​IFAC Exposure Drafts ED 2 & 3, Conceptual Framework for Public Sector Entities
​12-April-2013 ​Chartered Institute of Internal Auditors Chartered Institute of Internal Auditors Consultation Document: Effective Internal Audit in the Financial Services Sector ("the Consultation Document")
​28-March-2013 ​NASDAQ NASDAQ Notice of Filing of Proposed Rule Change to Require That Listed Companies Have an Internal Audit Function
​25-March-2013 ​FFIEC Social Media: Consumer Compliance Risk Management Guidance
​​14-March-2013 ​​IFAC ​Response to the International Auditing and Assurance Standards Board (IAASB) Exposure Draft - "The Auditor's Responsibilities Relating to Other Information in Documents Containing or Accompanying Audited Financial Statements and the Auditor's Report Thereon"
15-Feb-2013 INTOSAI ​ISSAI 100 – 400: Fundamental Principles of Public Sector, Financial, Performance and Compliance Auditing - Cover Letter and Comments
 

2012

Date​ ​Organization ​Response
​28-Dec-2012 ​ISACA ​Response to the Information Systems Assurance and Control Association (ISACA) - Invitation to Comment (ITC) - "IT Audit and Assurance Standards"
​15-Dec-2012 ​IESBA ​Response to the International Ethics Standards Board for Accountants (IESBA) Exposure Draft, Responding to a Suspected Illegal Act
​4-Dec-2012 ​COSO ​COSO Internal Control - Integrated Framework - Internal Control Over External Financial Reporting: A Compendium of Approaches and Examples (ICEFR), September 2012
​8-Oct-2012 ​IAASB ​Response to the International Auditing and Assurance Standards Board (IAASB) - Invitation to Comment (ITC) - "Improving the Auditor's Report" - Cover Letter and Appendix A
26-July-2012​ U.S. Congress​ IIA Statement to House Committee on Financial Services
25-May-2012​​ IFAC​​ Response to the International Ethics Standards Board for Accountants (IESBA) – Exposure Draft, Proposed Change to the Definition of "Engagement Team"
31-Mar-2012​ COSO COSO Draft Update of Internal Control – Integrated Framework - Comment Letter​
2-Mar-2012​ ​Basel Committee ​Base Internal Audit Function in Banks - Comment Letter
29-Feb-2012​​ PCAOB​​ PCAOB Communications with Audit Committees​ - Comment Letter
​29-Feb-2012​​ ​IFAC​​ ​IFAC Evaluating and Improving Internal Control - Comment Letter and Appendix A​
15-Feb-2012 ICGFM ICGFM’s comments on IPSASB Exposure Draft No. 46, Reporting on the Long-Term Sustainability of a Public Sector Entity’s Finances
 

2011

Date​ ​Organization ​Response
14-Dec-2011​ ​IIRC ​Response to the International Integrated Reporting Committee (IIRC) – “Discussion Paper on Towards Integrated Reporting – Communicating Value in the 21st Century” - Cover Letter and Appendix A
14-Dec-2011​ ​PCAOB Response to the Public Accounting Oversight Board (PCAOB) – “Concept Release on Auditor Independence and Audit Firm Rotation” - Cover Letter and Appendix A and B
30-Sep-2011​ PCAOB​ Response to the Public Company Accounting Oversight Board (PCAOB) - Concept Release on Possible Revisions to PCAOB Standards Related to Reports on Audited Financial Statements and Related amendments to PCAOB Standards (Ref Docket matter No.34)​ - Cover Letter and Attachment A
16-Sep-2011 ​IAASB Response to the International Auditing and Assurance Standards Board (IAASB) - "Enhancing the Value of Auditor Reporting: Exploring Options for Change"​ - Cover Letter and Attachment A
22-July-2011​ EU​ Response to the Green Paper "The EU Corporate Governance Framework"​ - Cover Letter and Attachment A
4-April-2011​ IAASB​ Proposed Strategy and Work Program for 2012-2014

 

2010

Date​ Organization ​Response
17-Dec-2010​ SEC​ Proposed Rules for Implementing the Whistleblower Provisions of Section 21F of the Securities Exchange Act of 1934 (File Number S7-33-10)
8-Dec-2010​ European Union​ Response to the Green Paper "Audit Policy: Lessons from the Crisis"​
18-Nov-2010​ Government Auditing Standards​ Government Auditing Standards - 2010 Exposure Draft​
12-Nov-2010​ ISA​ Richard Chambers cover letter on Proposed Revisions to ISAs 315 and 610​
7-Sept-2010​ PCAOB​ Docket 028: Proposed Auditing Standard Related to Confirmation and Related Amendments to PCAOB Standards​
13-July-2010​ International Federation of Accountants (IFAC)​ 2010-2012 proposed business strategy and work plan of the Professional Accountants in Business (PAIB) Committee ​
15-June-2010​ International Federation of Accountants (IFAC)​ 2010-2012 proposed strategy and work plan of the International Ethics Standards Board for Accountants (IESBA)
4-June-2010​ Basel Committee​ Consultative Document - Principles for Enhancing Corporate Governance issued by Basel Committee on Banking Supervision​
27-May-2010​ PCAOB​ PCAOB Rulemaking Docket Matter No. 030, Proposed Auditing Standard Related to Communications With Audit Committees and Related Amendments to Certain PCAOB Auditing Standards - Cover Letter and Attachment A
3-May-2010​ ISACA​ Monitoring of Internal Controls and IT​
27-April-2010​​​ India Ministry of Corporate Affairs​​ Corporate Governance Voluntary Guidelines 2009 - Appointment of the Internal Auditor
15-April-2010​ INTOSAI​ ISSAI 40 - Quality Control for SAIs - Cover Letter and Attachment A
15-April-2010​ INTOSAI​ ISSAI 3100 - Performance Auditing Standards - Cover Letter and Attachment A
25-Feb-2010​ Zambia Institute of Chartered Accountants​ Practice Guide Note No. 2​
18-Feb-2010​ PCAOB​ PCAOB Rulemaking Docket Matter No. 026: Proposed Auditing Standards Related to the Auditor’s Assessment of and Response to Risk

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