The Green Pen Digest – September 2025

Welcome to the ninth edition of the Green Pen Digest!

Here are the key changes and updates for September 2025:

Global Updates

1. Second Topical Requirement released: Third Party

A mandatory component of the IPPF, this latest Topical Requirement provides a consistent, comprehensive approach to assessing the design and implementation of third-party governance, risk management, and control processes.

Issued: 15 September 2025 | Effective: 15 September 2026

Download the Topical Requirement and the accompanying User Guide here

2. New Global Practice Guide: Communicating Final Engagement Results

The The Institute of Internal Auditors Inc. is continuing to update the resources available to members to ensure all are aligned to the new Global Internal Audit Standards.

The most recent release, on Communicating Final Engagement Results, describes the process for understanding, developing, and communicating engagement results from start to finish, focusing on written reports and presentations for stakeholders.

This members’-only resources and its accompanying tools can be downloaded here

3. The NASBA and the AICPA Release Exposure Draft of Proposed Revisions to CPE Standards

National Association of State Boards of Accountancy (NASBA) and the American Institute of Certified Public Accountants (AICPA) have released for comment an exposure draft on proposed changes to the Statement on Standards for Continuing Professional Education (CPE) Programs (Standards).

The proposed revisions are designed to address emerging learning methods, further clarify credit-awarding mechanisms, and ensure continuing professional education remains relevant and responsive to evolving professional practice needs.

You can access the Exposure Draft Explanatory Memo, Comment Submission Form and Public Comments here

4. 2026 Risk in Focus

The Internal Audit Foundation has released it’s 2026 Risk in Focus reports. Based on survey responses from more than 4,000 Chief Audit Executives and directors in 131 countries and locations, the Risk in Focus series of publications is a premier resource for understanding changing risk levels and internal audit activities.

5. New Global Technology Audit Guide: Continuous Auditing and Monitoring

Continuous auditing leverages technology to provide ongoing assessments of risks and controls, enabling internal audit functions to offer continuous assurance to the board and senior management.

By integrating continuous auditing with continuous monitoring, organisations can enhance efficiency, risk management, and control effectiveness in a rapidly changing business environment.

This members’ only guide can be accessed here

6. The 3 Lines Model: Share Your Voice

The Internal Audit Foundation is conducting research into the evolving relationship between internal audit and second-line assurance functions, and is asking for your help via participation in an online survey.

The survey aims to explore:

How organizations define and manage the roles, reporting structures, and responsibilities of the second and third lines.
The factors influencing the collaboration, integration, or separation of second- and third-line activities.

You can access the survey here

7. Getting Started With: Critical Thinking

This episode of Getting Started With: Critical Thinking from The Institute of Internal Auditors Inc. includes:

What critical thinking means for internal auditors
How it improves your audit work
Practical tips to build your critical thinking muscle

Available to members and non-members, you can watch the 7 minute video here.

8. Nominations open for the Audit Innovator Award

The Institute of Internal Auditors Inc. are partnering with Protiviti to present the Audit Innovator Award, which recognises exemplary contributions in three critical areas:

Audit Strategy & Transformation
Enabling Technology
People & Culture

Applications are open in the U.S. and Canada (excluding Quebec) until October 5. Find out more, or apply, here

9. IIA Board and Committee Nominations

The The Institute of Internal Auditors Inc. provides dynamic leadership for the global profession of internal auditing. Volunteers play a key role and the contributions they make impact the day-to-day functions of internal auditors, as well as shape the future of the internal audit profession.

Nominations for the 2026-2027 term are now open, until 30 October 2025.

To make a nomination or learn more about the process and nomination requirements, you can find more information here

10. Become a Mentor with the ICAS Foundation

The ICAS (Institute of Chartered Accountants Scotland) Foundation mentor recruitment is still open for 2025, with a limited number of mentoring vacancies available to support their biggest-ever student intake.

Find our more or register here

11. Deadline for filing Income Tax Audit Reports extended in India

The Central Board of Direct Taxes in India has decided to extend the specified date for filing various audit reports for the Assessment Year 2025–26, from September 30, 2025 to October 31, 2025, for assessees referred to in clause (a) of Explanation 2 to sub-section (1) of section 139 of the Income Tax Act, 1961.

You can read more, including the background to the decision, here

12. AICPA News – September 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. Ethical Risks in AI from the Queensland Audit Office (QAO)

The use of AI, and the risks associated with that use, continue to grow. In their latest report, the QAO looks at the Queensland public sector’s policies and guidelines for managing ethical risks associated with its AI systems.

They also provide a checklist of key questions that those charged with governance can consider when managing ethical risks.

You can read the full report here

2. Australia’s first National Climate Risk Assessment

The Australian Government has released the risk National Climate Risk Assessment, breaking the risks down across 11 key areas including: Nationally Significant climate risks; risks to communities; defence and national security; the economy; primary industry; healthcare; water scarcity and more.

You can access the Overview (72 pages) and full Assessment (284 pages) here

3. Audit & Risk Committee Forum (Virtual)

The Audit & Risk Committee Forum (ARC 2025) on 16–17 October 2025 from the Institute of Internal Auditors – Australia brings together leading experts and senior practitioners to address the most critical challenges facing audit and risk committees today.

This forum is designed for audit and risk committee members, as well as professionals working closely with these committees across internal audit, risk, governance and compliance.

Find the full program and register here

In the news

1. Cyber-attack on European airports highlights that the risk of third-party cyber attacks cannot be ignored

2. “Human error” and “procedural deviations” blamed for 13-hour emergency call outage in Australia, which has tragically been linked to at least 3 deaths

3. Failure of supervisory and SOD controls allow $360,000 embezzlement from a public library

From the Blogosphere

These blogs came across my desk this month, and are well worth a read:

1. Internal Audit Reporting to the CFO – 5 Safeguards to Independence, by Richard Chambers

2. 5 Emerging Risks No-one is Talking About by Tim Buckley

3. 12 Data analytics pain points all Internal Auditors should avoid by Tom O’Reilly and Jim Tarantino (personally, I think this list could also be extended to all risk and compliance professionals, not just auditors!)

4. Busting common myths about root-cause analysis in audit by Andrew Gambier

From the pencil case

New from Green Pen Consulting this month:

Registration is now open for the 🚀 Audit Accelerator Program 🚀

➡️ If you’re an audit senior looking to accelerate your career, this is your chance to join the founding cohort! Spots are limited, and the founding price won’t be repeated.

Registration closes 5pm, Monday 6th October, Australian Eastern Daylight Savings Time (AEDST).

Keep an eye out for these next month…

6-8 October: Designed to fuel the career growth of emerging internal audit leaders, the 2025 IGNITE Conference offers an energetic, hands-on experience. Held both in-person in Las Vegas and online, find out more and register here
8-9 October: The Chartered Institute of Internal Auditors Internal Audit Conference 2025 is being held in London, and online. You find the line-up and book your spot 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
16-17 October: Audit & Risk Committee Forum from the Institute of Internal Auditors – Australia. Review the full program and register here
19-22 October: Join John Chesshire for the Strategic ESG Masterclass in Oman, in conjunction with the National Academy for Training & Development. Check out John’s post here for the full agenda, pricing and other information.
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

…And beyond

3-4 November: The The Institute of Internal Auditors Inc. 2025 Financial Services Exchange is being held in Washington, DC and virtually. With up to 13 CPE on offer, this is the premier internal audit and risk management conference tailored for professionals in banking, insurance, credit unions, consumer finance, and fintech. Find out more 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 does an accountant say when boarding a train?

“Mind the GAAP!”

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 October, and don’t forget to #GetYourNerdOn!

Claire Berry

Founder & Director, Green Pen Consulting