- On December 13, 2021, the Institute of Internal Auditors (IIA) and the Association of Chartered Certified Accountants (ACCA) renewed their existing memorandum of understanding (MOU).
The three-year agreement will further strengthen and extend the current cooperation agreement and allow both bodies to continue to work closely together to advance their respective professions.
- The new Memorandum of Understanding was signed by IIA President and CEO Anthony Pugliese, CIA, CPA, CGMA, CITP and ACCA Chief Executive Helen Brand. Under the terms of the agreement, The IIA and ACCA will focus on advancing their members' careers, enhancing governance practices and serving the public interest.
- "This MOU builds on an already strong working relationship with ACCA," said Pugliese. "We look forward to our ongoing collaboration together. Internal audit plays a vital role in providing the independent, internal assurance that supports all types of external disclosures, so our global organizations represent complementary functions in many areas."
- The IIA and ACCA are partnering on joint research that will uncover new insights and solutions to address the ongoing impacts of digital transformation on internal control frameworks. The report will be released in 2022 and will provide important perspectives and guidance for internal auditors, Boards of Directors, regulators and other stakeholders. In addition, the organizations are exploring opportunities to conduct global research related to environmental, social and governance (ESG) and diversity, equity and inclusion (DEI). This research will seek to identify data and trends that will help advance the role and impact of internal auditors as leaders in these emerging areas, which are of vital importance to effective corporate governance and public trust.
The parties will advocate for each other's qualifications and use their own channels to promote their partnership. They'll also raise awareness and promote advocacy of respective initiatives and programs to reflect the distinct but complementary roles played by professionals in the fields of accounting, public financial management, external audit and internal audit, in respect to effective governance; including The IIA's International Standards for the Professional Practice of Internal Auditing, as well as The Three Lines Model.
- For more, see The Institute of Internal Auditors and ACCA Renew MoU (prnewswire.com).