The Institute of Internal Auditors (IIA), the internal audit profession\u2019s globally recognized advocate, educator, and provider of standards, guidance, and certifications, recently issued letters to Greece\u2019s Prime Minister and Ministry of Development and Investments, objecting to a last-minute legislative amendment that would infringe on its international standards and code of ethics and the efficient practice of internal auditing. Representatives of The IIA\u2019s Global headquarters and IIA\u2013Greece met with the Minister of Development and Investments on 29 October to discuss their concerns and outline a potential resolution.<\/p>\n
\u201cThe IIA stands ready to work in partnership with Greek officials to develop and implement measures that will protect business and ensure the independence of internal auditors,\u201d said IIA President and CEO Anthony J. Pugliese, CIA, CPA, CGMA, CITP. He added, \u201cThe internal audit function plays a key role by providing independent assurance that an organization\u2019s risk management, governance, and internal controls processes are operating effectively. Moving forward without input from critical stakeholders in the capital markets poses a risk to governance of entities operating in Greece and around the world.\u201d<\/p>\n
Following Greece\u2019s passage of the law, IIA advocacy staff expressed disappointment and concern regarding the potential negative impact on internal audit quality in Greece and the mobility of quality internal auditors within the European Union and globally. The IIA reiterated its willingness and availability to help the betterment of effective governance in Greece, independence of internal audit in Greece, and mobility of EU and global professionals.<\/p>\n