The Institute of Internal Auditors (IIA) – the internal audit profession’s leader in standards, certifications, education, research, and technical guidance worldwide – has approved Malta and Somalia as new affiliates to its global federation, further extending The IIA’s extensive international reach.
The addition of these two new affiliates expands awareness of the internal audit profession in the regions and provides forums for discussing emerging topics and challenges faced by practitioners at the local level.
IIA members in Malta and Somalia will continue to have full access to a wide range of professional guidance, tools, and resources and will gain several new benefits. With Malta and Somalia’s new status, local members will now be able to access trainings that are tailored to the challenges, nuances, and opportunities specific to their countries. Members will also gain new networking opportunities and local advocacy representation.
“I’m excited to welcome Malta and Somalia as the newest members of The IIA’s global network of affiliates,” said IIA President and CEO, Anthony Pugliese, CIA, CPA, CGMA, CITP. “The role of internal auditors has never been more important. As organizations seek to navigate unprecedented risks and rapidly shifting business dynamics, they need the support, strategic partnership, and guidance that only internal auditors can provide. With today’s approval of affiliate status, Malta and Somalia will not only benefit from, but strengthen, The IIA’s global network, influence, and professional offerings. I look forward to partnering with our new international affiliates as we work together to lead the profession into the future.”
Members in Malta and Somalia will continue to collaborate with local partners in developing and delivering training for internal auditors in the public and private sectors, who aspire to achieve globally recognized internal audit certifications, including the Certified Internal Auditor (CIA), and designations like the Internal Audit Practitioner (IAP).
Achieving globally recognized certifications is more important than ever, as the internal audit profession’s role is expanding and its value to business is increasing. The profession is helping organizations navigate a fast-moving business landscape including identifying and mitigating risks from emerging technology and cybersecurity and playing a leading role in providing assurance and insights on ESG initiatives.
The two new affiliates join The IIA at a pivotal time for the profession, just months before the release of the updated Global Internal Audit StandardsTM. The multi-year project, designed to comprehensively review and update The IIA’s International Professional Practices Framework (IPPF), is expected to be finalized at the end of 2023 and go into effect in January 2025.
The process of joining The IIA is rigorous, with affiliates required to develop an organizational foundation and undergo an extensive preparation process, including demonstrating a sustainable strategic plan, a commitment to ethical practices, and strong governance and compliance initiatives. As part of that process, both Malta and Somalia put forth an exemplary Formation Committee, which will serve as the affiliate’s leadership team, consisting of a president, vice president, treasurer, secretary, and membership chair.
IIA Somalia will be headquartered in Mogadishu and serve the Federal Republic of Somalia. IIA Malta will be headquartered in Valletta and serve the Republic of Malta.
With the additions of Malta and Somalia, The IIA’s 235,000 members are now supported by a global network of 116 international affiliates, which collectively represent nearly 200 countries and territories.
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Tags: Accounting, Auditing, Benefits, ESG
