The establishment and development of the Institute of Internal Auditors-Guyana Chapter
The Institute of Internal Auditors (IIA) Global has declared the month of May to be International Internal Audit Awareness Month. Therefore, I have chosen to enlighten readers on the establishment and the development of the Guyana Chapter, and its relationship with IIA Global.
What is the IIA Global?
The IIA Global was established in 1941 in New York City by a small group of dedicated internal auditors who wanted a professional organisation that would represent their profession, and to provide educational activities and standards for the professional practice of internal auditing. Since then, the IIA has become a dynamic international organisation that meets the needs of a worldwide body of internal auditors.
Its mission is to be the primary international professional association, organised on a worldwide basis, and it is dedicated to the promotion and development of the practice of internal auditing.
With over 180,000 members in approximately 190 countries globally, the IIA is proud to be the world leader in certification, education, research, and technological guidance for the profession globally. Headquartered in Altamonte Springs, Florida, USA, the IIA is obligated to meeting the needs and development of Internal Auditors worldwide.
This Global Institute is committed to:
● Providing, on an international scale, comprehensive professional development activities, standards for the practice of internal auditing, a code of ethics, and certification of its examinations.
● Researching, disseminating, and promoting to its members and to the public throughout the world, knowledge and information concerning, among other things, governance, risk management and controls.
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Having international conferences worldwide in order to educate members and others about the current practice of internal auditing as it exists in various countries throughout the world.
Bringing together internal auditors from all countries to share information and experiences in internal auditing and promoting education in the field of auditing through local, regional and international meetings.
Providing a Code of Ethics in order to promote an ethical culture in the profession of internal auditing. This code is necessary and appropriate for this profession, founded as it is, on the trust placed in its objective assurance about governance, risk management, and control.
The Guyana Chapter
The establishment of the Institute of Internal Auditors-Guyana Chapter (IIAGC) was approved by the IIA Global on 30 April, 2000, and it is now in its 21st year of existence.
This Chapter attained a major landmark on 11 July, 2019, when it became an International Chapter of IIA Global. Prior to 11 July, it was a member of the North American Chapter, which comprises the United States of America, Canada, and eleven Caribbean Countries, including Jamaica, Puerto Rico, Bermuda, Barbados, and Trinidad & Tobago.
The Chapters around the world are the building block of the IIA Global. This Chapter’s aim is to serve the IIA membership as well as commercial, industrial and governmental organisations. Auditors from both the private and public sectors make up the membership of this Chapter. Representatives from public accounting organisations, educators from the University of Guyana and students interested in the internal auditing field are welcomed to be members. This member diversification provides a real forum for a rich interchange of ideas and information.
International Chapter (IC)
Guyana is now a global partner of the IIA, joining over 190 countries and territories across the world, and is no longer under the ‘umbrella’ of IIA North American Chapter. In order to be an IC, this Chapter must maintain a minimum of 50 members. In effect, this is not a problem area.
Additionally, members will benefit in the following ways:
● Members can now renew their membership for a fee of US$100, as against the former fee of approximately US$265. With such a significant reduction (62 per cent), it is expected that the Chapter’s membership should surpass 100 shortly.
● There will be on demand, 24/7, a webinar playback, allowing members access to an extensive