Celebrating new milestone towards professionalisation of internal audit service providers in SA

Issued by The Institute of Internal Auditors of South Africa
Johannesburg, 18 Feb 2025

The IIA SA is honoured to stand beside its members as it continues to shape an internal audit profession built on a foundation of competence and integrity. (Image: IIA SA)

In keeping with its commitment to excellence and growth within the internal audit profession, the Institute of Internal Auditors South Africa (IIA SA) is excited to celebrate our two new service lines that are setting new standards for internal audit quality, credibility and competence in South Africa. These service lines: the Recognised Internal Audit Service Provider and the Recognised External Quality Assurance Reviewer, reflect our vision for building a trusted and accountable community of internal audit service providers in our country.

Recognised internal audit service provider

Through this voluntary recognition programme, the IIA SA will vet service providers (firms and individuals) that offer internal audit services against pre-determined requirements approved by the IIA SA Board of Directors. Firms and individuals who meet the requirements may be recognised by the IIA SA confirming their adherence to professional standards, ethical conduct and competency in delivering internal audit services.

Recognised external quality assurance reviewer

Through this voluntary recognition programme, the IIA SA will vet individuals who deliver external quality assurance reviews against pre-determined requirements approved by the IIA SA Board of Directors. Firms and individuals who meet the requirements may be recognised by the IIA SA confirming their competency, independence and adherence to professional standards in conducting external quality assurance reviews.

Professionalisation is and has been an ongoing discussion in the internal audit community. Given their voluntary nature, these new services do not present a full solution to the problem; however, it moves the needle forward where the internal auditors become publicly recognised as professionals according to the degree to which they meet the pre-determined criteria focused on quality and competence. While professionals can achieve improvement in status, the true value is concerned with the capacity of members to enhance the quality of service provided.

IIA SA CEO Arlene-Lynn Volmink commented: “There are many practising internal auditors, including Chief Audit Executives, who are not members of the IIA SA. This is a problem as it essentially means these individuals cannot be held to account in terms of the code of ethics, now contained within the Global Internal Audit Standards, and in terms of the member-approved by-laws of the IIA SA. Moreover, without having the prerequisite certifications or professional designations, the audit clients cannot be assured they are maintaining their Continuing Professional Education to maintain a sufficient level of competence that contributes to a higher quality of work.”

While the programme is in its infancy and is set to gain momentum during 2025, the IIA SA is proud to announce that Nexia SAB&T is the first organisation in South Africa to achieve the status as a Recognised Internal Audit Service Provider. In addition, Nexia SAB&T director Zulpha Abrams is the first individual in South Africa to be recognised as an External Quality Assurance Reviewer.

This recognition is a testament to Nexia SAB&T's commitment to quality, professionalism, and the advancement of the global internal audit standards in South Africa. Not only does this accomplishment speak to their dedication, but it also coincides with a milestone anniversary of 30 years of service aligning with 30 years of South African democracy. This shared history highlights the resilience and growth of both Nexia SAB&T and our nation, highlighting the progress made in upholding standards, accountability and trust in the internal audit profession.

Nexia SAB&T CEO Fazel Sulaman commented that it is indeed a privilege for us at Nexia SAB&T to be part of achieving this important milestone in the journey of the IIA SA. As we celebrate our 30th anniversary, we continue to build legacies and will continue to support the growth and celebrate the successes of the internal audit profession in our country.

More applications are in progress, and this year will likely see an uptake in the traction of this project as awareness grows.

The IIA SA is honoured to stand beside our members as we continue to shape an internal audit profession built on a foundation of competence and integrity. The strategic recognition project marks a proud moment for the institute in its journey towards professionalising the practice of internal auditing in South Africa. While self-regulation is the current model of choice for the internal audit profession in South Africa, this voluntary recognition project signals progress toward building public trust and confidence in the profession and its practicing professionals.