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The Internal Audit Foundation is undertaking the initiative: "Internal Audit: Vision 2035 - Creating Our Future Together." This project is designed to identify what the internal audit profession will look like in 2035, how the IIA can elevate the value of internal audit during that time, and what steps must be taken to make that future a reality.
The Illinois Department of Financial and Professional Regulation was created on July 1, 2004. It is responsible for the regulation, oversight, and licensure of almost 300 different types of professional licenses and financial institutions. The current director ("Secretary") of this department is Mario Treto, Jr.
Two-tier states include Alabama, Florida, Illinois, Montana, and Nebraska. The trend is for two-tier states to gradually move towards a one-tier system. Since 2002, the state boards of accountancy in Washington and South Dakota have ceased issuing CPA "certificates" and instead issue CPA "licenses". Illinois planned to follow suit in 2012.
In 1957, the General Assembly passed the Illinois Auditing Act and created the Department of Audits and the Legislative Audit Commission. [5] In 1970, the Illinois Constitution mandated the office as a legislative entity rather than an executive branch agency. [5] The General Assembly passed the Illinois State Auditing Act. [6]
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[11] [12] In addition, any of these three types of professionals may choose to become an Enrolled Agent (EA) by successfully passing an exam administered by the Internal Revenue Service. [13] EA licensure gives the tax advisor federal representational rights, or the right to speak on a client's behalf to IRS staff on matters related to federal ...
Independence of the internal auditor means independence from parties whose interests might be harmed by the results of an audit. [4] To maintain independence and neutrality, internal adjudicators should report directly to the Audit Committee and have unrestricted access to all applicable information and labor force within the association.
Internal Security Assessor (ISA) is a designation given by the PCI Security Standards Council to eligible internal security audit professionals working for a qualifying organization. [1] The intent of this qualification is for these individuals to receive PCI DSS training so that their qualifying organization has a better understanding of PCI ...