Welcome to the sixth edition of the Green Pen Digest!
Global Updates
1. U.S. House Subcommittee on Capital Markets holding a hearing on the future of the PCAOB and SOX.
Legislation moving through the U.S. House of Representatives would fold the Public Company Accounting Oversight Board (PCAOB) into the Securities and Exchange Commission (SEC). The bill provides no funding for the operations of the PCAOB once folded into the SEC – thus effectively putting the PCAOB out of business.
Anthony Pugliese, President of the IIA, submitted a letter to the US House Subcommittee on behalf of the IIA to express the Institute’s perspective on the proposed change.
You can read the letter here.
More reactions to the Hearing are included below under ‘In the news‘
2. From Reaction to Readiness: The Shift Towards Organisational Resilience
The Institute of Internal Auditors Inc.’s latest “Global Best Practices” article explores how organisations are moving from reactive risk management toward proactive, built-in resilience — a shift driven by emerging regulations like the EU’s Digital Operational Resilience Act. You can read more here.
3. Getting Started with Agile Internal Auditing
New to The Institute of Internal Auditors Inc.‘s “Getting Started With” series is a new episode on agile auditing. This short 6-minute episode focuses on: the definition of ‘Agile’ internal auditing; why it’s important; how to apply Agile. You can watch the video here
4. Internal Auditor Magazine – June edition out now
Read about how AI is transforming audit functions and how Lean Six Sigma and Kaizen are helping internal auditors ride the waves of organisational change. Plus, The IIA’s 2025-2026 North American Board Chair Elizabeth Sullivan, CIA, CRMA, CCSA encourages auditors to embrace innovation. Read the latest edition here
5. Supporting International Fraud Awareness Week, 2025
Run by the Association of Certified Fraud Examiners (ACFE), sign-ups are now open for organisations to support International Fraud Awareness Week, November 16-22, 2025. From the ACFE: “Whether you’re a business or government entity, becoming a supporting organisation is a powerful way to show your commitment to integrity and help raise awareness in your community.” You can become a supporting organisation for free, here
6. New Audit Tool: Enterprise and Business Process Risks
A members-only tool from The IIA, this tool includes a practical workbook and user guide that supports identifying, managing, and tracking risks at both the enterprise and business process levels. You can download your own version here
7. Proposed New IIA Disciplinary & Oversight Frameworks Released for Stakeholder Feedback
The IIA is seeking stakeholder feedback on two proposed disciplinary & oversight (D&O) frameworks:
- An update to The IIA’s existing D&O framework for its members
- A proposed model framework for use by National Institutes within The IIA’s global federation
You can download a copy of the new D&O Frameworks and provide your feedback here. The comment period closes on 29 August 2025.
8. Enhancing Enterprise Risk Management (ERM) and Strategic Decision Making
Baker Tilly US and the Internal Audit Foundation have released a new report exploring global ERM maturity. The study traces how ERM programs are maturing, where technology and resource gaps persist, and how leading teams embed ERM into strategic decision making while safeguarding internal audit independence.
This is a members-only resource. You can grab your copy here
Australian Updates
1. Survey on Global Internal Audit Standards and Topical Requirements
Ahead of the IIA Global Assembly on 12-13 July, IIA Australia is asking members for their feedback on several critical topics to ensure their members’ voices are truly heard and represented. The topics include the Global Internal Audit Standards, the Cybersecurity Topical Requirement, and the draft Third-Party Topical Requirement.
You can complete the survey here. The closing date for submissions is Friday, 11th July.
2. Registrations now open for the 2025 SA Business Summit
This event, from the Chartered Accountants Australia and New Zealand will be held on 4th September in Adelaide. You can find out more details and register here
In the news
1. The US Corporate market is divided when it comes to the proposed changes to the PCAOB and SOX. Some, like the American Securities Association, are supportive of the potential change, while others, such as former Security Exchange Commission officials and auditors have their concerns
2. The longest-serving legislative leader in US history was given 7 1/2 years imprisonment in a federal corruption case
3. EnergyAustralia apologised to customers in greenwashing settlement
4. P&O Ferries‘ decision to replace KPMG with a small 4-person accounting firm raises serious questions about auditor independence and governance
From the Blogosphere
These blogs came across my desk this month, and both are well worth a read:
1. You advised on it, can you still audit it? by Navin Pasricha
2. Internal Audit vs AI – who will win the race for relevance? by Richard Chambers
Keep an eye out for these next month…
- July: The draft version of the Organisational Behaviour Topical Requirement, previously expected to be released in May, is now expected to be released in July by the Global IIA for a 45-day period of public consultation.
- July: Draft version of the Business Resiliency Topical Requirement is expected to be released by the Global IIA for review and comment
- 7 July: Presented by Nam Phong Ho, CFA, CIA, CISA, CFE, QIAL, IIA Switzerland is holding a half-day training on Value-Driven Auditing (4 CPE credits available). You can find out more and register here
- 8-10 July: The Institute of Internal Auditors, Inc has a new Group Internet Based course, Critical Thinking: A Vital Auditing Competency. 8 CPD hours are available for this course, and you can register here
- 14-16 July: The 2025 International IIA Conference is being held this year in Toronto, Canada & virtually. With 12.8 CPE hours at the ready, you can find out more or register here
- 17 July: The Institute of Internal Auditors – Australia is holding a one-day Technology: Governance, Risk & Assurance Forum in Brisbane. Find out more, or register here
- 30-31 July: AuditBoard is hosting a free virtual event “GRC Now” for security, compliance, and risk leaders to dive into the current trends and evolving regulations facing the industry. You can find out more and register here
…And beyond
- 20-21 August: The ISACA Malaysia Chapter is presenting the Cybersecurity, IT Assurance & Governance Conference 2025 at the Sheraton Petaling Jaya Hotel. You can find the pricing, speakers and schedule here
- 3-5 September: The Instituto de Auditores Internos de Colombia is holding the XVII Internal Audit Congress in Bogota. For more information and to register, check out the event website here
- 14-18 September: The ACUA – Association of College and University Auditors is presenting AuditCon, the premier conference designed for higher education auditors, in Louisville, Kentucky. You can find out more or register: here
- 9 October: IIA Luxembourg will be holding their annual conference at the Abbaye de Neumünster. The full agenda and registration details can be found here
- 13-15 October: The IIA PNG Pacific International Conference is being held in Port Moresby, PNG. To stay tuned for updates, refer to the IIA PNG website here or the IIA PNG LinkedIn group, here
- 18-20 November: The UAE IAA – UAE Internal Auditors Association, Association of Certified Fraud Examiners (ACFE), and ISACA are coming together to unite the top minds in internal audit, fraud examination, cybersecurity, compliance, and tech innovation with the second annual Audit, Anti-Fraud & I.T. Congress, at the Conrad Abu Dhabi Etihad Towers. You can register here
Joke of the Month!
An auditor’s definition of ‘weekend’ during busy season:
A mythical concept passed down by seniors to give you hope.
That’s all for this month, folks.
If you have any key updates that you feel others should know about, feel free to send me a message and I’ll be sure to include them in next month’s Digest.
Until then, have a great July, and don’t forget to #GetYourNerdOn!
Claire Berry, Founder & Director, Green Pen Consulting
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