Institute of Internal Auditors and ACCA Renew Collaboration to Enhance Auditing Practices Globally
On December 16, 2024, a significant partnership renewal was announced between the Institute of Internal Auditors (IIA) and the Association of Chartered Certified Accountants (ACCA). This renewal of their existing memorandum of understanding (MoU) marks a key moment in strengthening collaboration between these two prestigious organizations, allowing them to further advance the fields of internal auditing and accountancy on a global scale.
Signed by IIA’s President and CEO, Anthony Pugliese, and ACCA’s Chief Executive, Helen Brand, the renewed agreement spans three years and is built on a shared commitment to support member development, improve governance practices, and serve the public interest. According to Pugliese, "We are excited to extend our partnership with ACCA," emphasizing the synergy that will be realized through collaboration.
The MoU outlines several collaborative efforts, including joint research initiatives focusing on emerging trends in areas such as cybersecurity, technology, and data evolution, as well as issues surrounding diversity and environmental, social, and governance (ESG) criteria. In recent years, both organizations engaged in a comprehensive study that explored how rapid business transformation impacts internal controls. They plan to publish new findings in 2025 highlighting the application of internal control concepts to sustainability and the management of non-financial data.
Helen Brand expressed enthusiasm about their longstanding relationship, stating, "Over the years, we've formed a strong relationship with The IIA, which continues to benefit both memberships." She looks forward to building on their past achievements through collaborative events, shared research initiatives, and other mutual endeavors.
A notable aspect of this partnership is the continued promotion of each other’s qualifications. The IIA will maintain its program that allows ACCA members to enhance their skills in internal auditing, offering a challenge exam to earn the Certified Internal Auditor® (CIA®) designation. This initiative has already seen over 5,000 ACCA members achieve their CIA credential since its inception in 2015, showcasing the practical benefits of this partnership.
The collaborative relationship serves to elevate the role of internal auditors as leaders in essential areas that are vital for effective corporate governance and public trust. As global markets evolve and become increasingly complex, the importance of robust internal controls cannot be overstated. This renewed commitment between the IIA and ACCA reflects a proactive approach toward elevating professional standards and ensuring that both entities remain at the forefront of addressing modern challenges in auditing and governance.
The IIA is an international professional association boasting over 250,000 members worldwide, recognized for its leadership in setting standards, certifications, education, research, and guidance within the internal audit profession. Established in 1941, it has awarded more than 200,000 CIA certifications. In contrast, ACCA, founded in 1904, champions inclusion in the accounting profession and aids a diverse community of over 252,500 members and 526,000 future members in enhancing their professional qualifications across 180 countries.
The extension of this partnership illustrates a shared commitment to promoting high standards in internal audit and accountancy, ultimately leading to better governance practices and increased public trust in financial reporting. Both organizations reiterate their dedication to continual improvement in their respective fields while enabling their members to thrive in increasingly complex environments.
For more information about the IIA and ACCA, please visit their respective websites: theiia.org and accaglobal.com.
Signed by IIA’s President and CEO, Anthony Pugliese, and ACCA’s Chief Executive, Helen Brand, the renewed agreement spans three years and is built on a shared commitment to support member development, improve governance practices, and serve the public interest. According to Pugliese, "We are excited to extend our partnership with ACCA," emphasizing the synergy that will be realized through collaboration.
The MoU outlines several collaborative efforts, including joint research initiatives focusing on emerging trends in areas such as cybersecurity, technology, and data evolution, as well as issues surrounding diversity and environmental, social, and governance (ESG) criteria. In recent years, both organizations engaged in a comprehensive study that explored how rapid business transformation impacts internal controls. They plan to publish new findings in 2025 highlighting the application of internal control concepts to sustainability and the management of non-financial data.
Helen Brand expressed enthusiasm about their longstanding relationship, stating, "Over the years, we've formed a strong relationship with The IIA, which continues to benefit both memberships." She looks forward to building on their past achievements through collaborative events, shared research initiatives, and other mutual endeavors.
A notable aspect of this partnership is the continued promotion of each other’s qualifications. The IIA will maintain its program that allows ACCA members to enhance their skills in internal auditing, offering a challenge exam to earn the Certified Internal Auditor® (CIA®) designation. This initiative has already seen over 5,000 ACCA members achieve their CIA credential since its inception in 2015, showcasing the practical benefits of this partnership.
The collaborative relationship serves to elevate the role of internal auditors as leaders in essential areas that are vital for effective corporate governance and public trust. As global markets evolve and become increasingly complex, the importance of robust internal controls cannot be overstated. This renewed commitment between the IIA and ACCA reflects a proactive approach toward elevating professional standards and ensuring that both entities remain at the forefront of addressing modern challenges in auditing and governance.
The IIA is an international professional association boasting over 250,000 members worldwide, recognized for its leadership in setting standards, certifications, education, research, and guidance within the internal audit profession. Established in 1941, it has awarded more than 200,000 CIA certifications. In contrast, ACCA, founded in 1904, champions inclusion in the accounting profession and aids a diverse community of over 252,500 members and 526,000 future members in enhancing their professional qualifications across 180 countries.
The extension of this partnership illustrates a shared commitment to promoting high standards in internal audit and accountancy, ultimately leading to better governance practices and increased public trust in financial reporting. Both organizations reiterate their dedication to continual improvement in their respective fields while enabling their members to thrive in increasingly complex environments.
For more information about the IIA and ACCA, please visit their respective websites: theiia.org and accaglobal.com.
Topics General Business）
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