Welcome to the eighth edition of the Green Pen Digest!
Here are the key changes and updates for August 2025:
Global Updates
1. Guidance for applying the IIA’s Topical Requirements
The Institute of Internal Auditors Inc. has released new guidance on applying the Topical Requirements, covering areas such as the role of professional judgement, applying multiple TRs at once, limitations, exclusions and resource constraints.
You can download the guidance document here.
2. New Global Practice Guide – Auditing Model Risk Management
The Institute of Internal Auditors Inc. has released the 2nd edition of the Global Practice Guide – Auditing Model Risk Management.
With the increasing use and reliance on AI and Large Language Models (LLMs), new risks have been introduced into how businesses use models, and the outputs from those models that may be relied on to make decisions. Internal Audit can play a key role in assessing a business’ model risk management (MRM) and the design, implementation, and operation of an organisation’s MRM framework.
This members’-only resource is available here.
3. New Global Practice Guide – Developing a Risk-Based Internal Audit Plan
Updated to align with the Global Internal Audit Standards, the 2nd edition of this Global Practice Guide describes a systematic approach for an organisation to create and maintain a risk-based internal audit plan.
This members’-only resource is available here.
4. New Global Technology Audit Guide: IT Governance and IT Management, 3rd Edition
There’s a theme to this month’s new releases from The Institute of Internal Auditors Inc.!
As organisations grow more reliant on technology, effective IT governance and management are critical to ensuring systems support strategic goals and operate securely and efficiently. Insufficient IT oversight can lead to control failures and operational risk.
This guide helps internal auditors identify gaps, evaluate alignment with organizational objectives, and provide recommendations to bolster IT oversight and resilience.
This members’-only resource is available here.
5. New Global Technology Audit Guide: Auditing Computing Infrastructure and IT Operations
This new GTAG helps internal auditors assess risks, evaluate controls, and ensure IT infrastructure and operations support organisational performance, continuity, and resilience.
This members’-only resource is available here.
It expands on the “IT Infrastructure” section of the GTAG “ctice Guide describes a systematic approach for an organisation to create and maintain a risk-based internal audit plan.
This members’-only resource is available here.
6. Global Best Practices: Transforming IA through AI
This latest report from The Institute of Internal Auditors Inc. explores how internal audit functions can enhance efficiency, productivity, and value by leveraging artificial intelligence and following key steps to maximise its benefits.
You can read the article here.
7. Guide to SOX Internal Control Implementation
After years working on SOX implementation projects and identifying gaps in implementation frameworks, Majid Mumtaz, CIA, ACA, FCCA has put his practical experience together in one resource for those managing SOX programs or supporting compliance initiatives.
Read his post and practical guidance here.
8. AICPA News – August 2025
AICPA News is a round-up of recent announcements from the American Institute of CPAs.
You can find the latest updates for the month here.
Australian Updates
1. Nominations open for the Leadership in Governance Awards
Every year Chartered Accountants Australia and New Zealand recognise outstanding members working in the public sector with awards and bursaries across all levels of government and regions in Australia.
Nominations close 12 September. You can find out more about the various categories of awards available, and make a nomination here
2. Annual Remuneration Report Survey Now Open
Chartered Accountants Australia and New Zealand‘s annual Remuneration Report Survey is now open, closing 12 September.
If you missed the email in your inbox, search ‘Share your thoughts: Remuneration Survey now open ‘ in your emails to participate in this year’s survey.
In the news
1. The US Coast Guard Marine Board of Investigation released it’s report into the Titan Submersible Implosion. The 300-page report is available here
2. A revenue accounting error at WHSmith North America has caused their shares to tumble and the company announced a cut in the profit outlook of tens of millions of pounds: read more here
3. Corporate Travel Management (CTM) AU/NZ has suspended trading of its shares on the ASX and has postponed its earnings release while it looks into potential accounting errors in its financial accounts
From the Blogosphere
These blogs came across my desk this month, and are well worth a read:
1. 10 red flags your internal audit function may be losing ground, by Richard Chambers
2. Plan well. Audit strong. by Ankita Krishnan, MBA, CIA®
3. How to get an internal audit job in 2025 by Tom O’Reilly
4. 10 plays to strengthen your internal audit function by EY
5. The next phase: AI and human collaboration powering internal audit transformation whitepaper from Protiviti
From the pencil case
New from Green Pen Consulting this month:
Level up your audit leadership in 6 weeks with the Audit Accelerator Program!
The Audit Accelerator Program is a live, interactive coaching program designed for internal auditors with 3-5 years’ experience who want to step up their impact. Gain confidence, ready-to-use tools and a peer community to elevate your impact.
Over 6 weeks, you’ll join a small group of peers for:
- Weekly group calls on Teams — including Hot Seat coaching and celebrating Wins of the Week
- Actionable strategies you can apply immediately
- Exclusive resources only for Accelerator participants
- Optional 1:1 coaching session at a 50% discount
- Email support for the duration of the program
Why join the waitlist now?
✅ Be first to know when enrolments open
✅ Priority access to only 6 founding participant spots
✅ Access founding participant pricing – this rate won’t return
Spots are limited to ensure personalised attention — don’t miss out.
Join the waitlist today: Audit Accelerator Program Waitlist
Keep an eye out for these next month…
- 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
- 15-17 September: The 5th Global Digital Audit Transformation & Fraud Analytics Forum & Awards 2025, from Corporate World Intelligence, will be held in Dubai, UAE. You can find out more or register here
…And beyond
- 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
- 21-23 October: Join AuditBoard for their 3-day Audit & Beyond conference in San Diego, California. With 17 CPE credits on offer, you can find out more details and register 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!
What’s an accountant’s favourite book?
50 Shades of Grey Areas!
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 September, and don’t forget to #GetYourNerdOn!
Claire Berry
Founder & Director, Green Pen Consulting
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