Internal Audit: Vision 2035 – Creating Our Future Together (2024)

Format: Online

The Internal Audit: Vision 2035 project, led by the Internal Audit Foundation, began in March 2023 to answer two fundamental questions:The Internal Audit: Vision 2035 project, led by the Internal Audit Foundation, began in March 2023 to answer two fundamental questions:

  • What will the future of the Internal Audit profession look like?
  • How will the role of the Internal Audit profession evolve, and what strategies are needed to enhance its value?

Following a robust research methodology that included interviews and focus groups with more than 500 students, educators, practitioners, and stakeholders and a global survey with more than 6,500 responses, the results are in!

Join Anthony Pugliese, IIA CEO and President, and Terry Grafenstine, Chair- IIA Global Board of Directors, 2024-25, in this webinar as they discuss the key findings, takeaways, and action items. With insights from today’s leaders, participants will gain a better understanding of our profession's trajectory and learn about tangible actions that can be taken today to realize the future in 2035.

DATE: Jul 31, 2024
TIME: 12:00 PM-1:00PM ET

One (1) NASBA CPE will only be awarded to participants on the live broadcast who are logged in for a minimum of 50 minutes and engage on at least three poll questions per each hour of the event.

Keep scrolling to register.


Internal Audit: Vision 2035 – Creating Our Future Together (1)

Anthony J. Pugliese, CIA, CPA, CGMA, CITP

Anthony J. Pugliese is President and CEO of The Institute of Internal Auditors (IIA), the internal audit profession’s most widely recognized advocate, educator, and provider of standards, guidance, and certifications.

Over a career spanning more than 30 years, Pugliese has been a strategic, hands-on leader who has directed expansions into major global markets, pioneered innovative educational initiatives aimed at enhancing members’ professional growth, overseen the internal audit function of a major organization, and re-shaped cultural norms toward greater diversity, equity, and inclusiveness (DE&I).

As CEO of The IIA, he drives the vision and management of a global professional association that represents more than 230,000 members, 164 chapters, and 115 affiliates in nearly 200 countries and territories. His focus is on enhancing membership services, creating new approaches to learning and competency development programs, global advocacy, and enhancing the value of internal audit, particularly in its role of addressing organizational risks and opportunities. He is helping both The IIA and the internal audit profession evolve for the future through projects to modernize professional standards and certifications. He spearheaded the groundbreaking “Internal Audit: Vision 2035 - Creating Our Future Together" project, which aims to identify what the internal audit profession will look like – and should look like – in 2035 and create a roadmap to help the profession achieve that vision.

A seasoned executive and skilled association strategist with a passion for innovation and technological advancement, Pugliese advocates a culture that promotes innovation, collaboration, empowerment, diversity, and achievement. He is very active in the community, with a passion for mentoring students and leading business partnerships, such as chambers of commerce.

Pugliese was previously President and CEO of the California Society of CPAs, the largest state CPA organization in the United States, with almost 50,000 members. In 2020, he led development of a Diversity, Equity, and Inclusion Committee at CalCPA to identify and address racial and other inequities in the accounting profession.

From 1997 through 2018, he served in key leadership positions at what is now the Association of International Certified Professional Accountants, the world’s largest accounting professional organization. His roles included Chief Operating Officer and Senior Vice President of the American Institute of Certified Public Accountants, where he oversaw the AICPA’s $50 million relocation to North Carolina; and Vice President of Business Reporting and Member Innovation.

A graduate of the University of North Florida (Jacksonville), Pugliese has been repeatedly recognized as one of the most influential people in accounting. He holds The IIA’s Certified Internal Auditor (CIA) credential, and is a Chartered Global Management Accountant (CGMA), Certified Information Technology Professional (CITP), and licensed CPA in Florida.

Internal Audit: Vision 2035 – Creating Our Future Together (2)


Terry Grafenstine is the 2023–24 Senior Vice Chair of the Global Board of Directors of The Institute of Internal Auditors (IIA) and Chief Audit Executive with Pentagon Federal Credit Union (PenFed). She was recognized by The IIA as one of the "Top Ten Audit Thought Leaders of the Decade" and inducted into The IIA’s Hall of Distinguished Audit Practitioners. She currently serves on both the IIA’s North American and Global Boards of Directors.

Terry has over 25 years of experience in the internal auditing and information technology profession. As CAE at PenFed, Terry is responsible for leading internal audit teams covering all aspects of operations at the second largest credit union in the US. Prior to joining PenFed in May 2023, Terry was the global chief auditor for Technology and Critical Business Services at Citi where she was responsible for leading internal audit teams covering technology infrastructure, cyber, resilience, platforms and applications within businesses and functions, and global business services.

Before joining Citi, Terry was a Managing Director in Deloitte's Risk and Financial Advisory practice, where she provided strategic advisory services to Chief Audit Executives across all commercial industries and IT audit, risk, and governance advisory services to first line executives in the defense and national security space. Prior to joining Deloitte, Terry served for eight years as the appointed Inspector General of the U.S. House of Representatives, where she designed, managed, and delivered audit and investigative services, including the annual financial statement audit and a comprehensive cyber assurance program.

Terry has held numerous leadership roles to support the auditing, accounting, and information technology profession, including serving as ISACA's Global Chair (2017-2018) and a member of the AICPA board of directors. Terry speaks globally on a wide range of subjects, including cyber security, internal auditing, accounting standards, resilience, leadership, and risk.

Terry earned a Bachelor’s degree in Accounting from Saint Joseph's University. She is a Certified Internal Auditor (CIA), Certified Public Accountant (CPA), Certified Information Systems Security Professional (CISSP), Certified Information Systems Auditor (CISA), Certified In Risk and Information Systems Control (CRISC), Certified in the Governance of Enterprise IT (CGEIT), and Certified Government Auditing Professional (CGAP).

Internal Audit: Vision 2035 – Creating Our Future Together (2024)


What is a sample vision statement for internal audit? ›

Internal Audit will provide value-added audits and advisory services with objectivity, fairness, openness, and in accordance with the highest professional and ethical standards. We will build leadership and expertise within our office to help drive positive change and promote integrity in our organization.

What is the future of internal audit? ›

With pressure to do more with less in an environment of unprecedented business disruption, the Internal Audit function must evolve to become the trusted partner of its leadership team. You can help your organization pivot with greater speed, agility, and flexibility.

What is the mission of internal audit? ›

Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.

What are the development goals for internal audit? ›

The objectives of internal auditing
  • Keeping things under control: ...
  • Integrity in Accounting and Fraud Detection: ...
  • Review of business operations: ...
  • Safeguarding assets: ...
  • Investigate errors and keep a close eye on them: ...
  • Providing assistance to management and determining liability: ...
  • Analyzing performance:

What are 3 examples of vision statement? ›

Concept-based vision statements.
  • BBC: “To be the most creative organization in the world”
  • Disney: “To make people happy.”
  • Google: “To provide access to the world's information in one click”
  • IKEA: “To create a better everyday life for the many people”
  • Instagram: “Capture and share the world's moments”

What are the 4 C's of internal audit? ›

As for directors, there are four features to consider when evaluating the sufficiency of any risk-based audit plan: culture, competitiveness, compliance and cybersecurity – let's call them the Four C's, for short.

What are the hot topics for internal audit 2024? ›

The key topics for 2024 include Liquidity and funding risk, Interest rate risk and hedging and Recovery operationalisation.

What is the trend in internal audit in 2024? ›

The role of Internal Audit

Cyber Security will remain a top focus for organisations in 2024, this is due to the ever-growing volume of sensitive data moving across interconnected and integrated networks and the increasing reliance on digital technology to operate efficiently.

How will audit change in the future? ›

One of the most significant trends that will shape the future of auditing is the increased use of artificial intelligence (AI) and automation. This will allow auditors to process larger volumes of data more efficiently and accurately, while also identifying potential risks and opportunities more quickly.

What are the five main objectives of internal audit? ›

Objectives of Internal Audit
  • Proper Control. One of the main objectives of an internal audit is to keep stringent control over all the activities of an organization. ...
  • Perfect Accounting System. ...
  • Review of Business. ...
  • Asset Protection. ...
  • Keeps a Check on Errors. ...
  • Detection of Fraud.

What is internal audit and objectives? ›

The Definition of Internal Auditing

It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

What is internal audit in simple words? ›

Internal audit refers to an independent service to evaluate an organisation's internal controls, its corporate practices, processes, and methods. An internal audit helps in securing compliance with the various laws applicable to an organisation.

What are three 3 major areas internal auditor should focus on to add value and improve organization performance? ›

Value Proposition: Internal Auditing's Value to Stakeholders

Communicated visually by three intersecting circles, the “value proposition” is based on the three core elements of value delivered by internal auditing to an organization: assurance, insight, and objectivity.

How can internal audit be improved? ›

5 Factors To Maximize the Value of Internal Audits
  1. Consider Developing A Risk-Based Audit Scheduling. Rather than following a rigid audit schedule, companies should adopt a risk-based approach. ...
  2. Utilizing Metrics and Data. ...
  3. Conducting Holistic Audits. ...
  4. Training and Development of Auditors. ...
  5. Follow-Up and Continuous Improvement.

Why is internal audit necessary? ›

Internal audits provide assurance of process integrity – that is, that systems work the way they were intended to work, and the way that management promises those systems work. These audits can identify risks of human error or other system failures, such as complicated software that might crash at critical moments.

What is an example of a vision statement for an accountant? ›

To be the most knowledgeable and transformative Finance and Accounting Division in the nation. Our culture of continuous improvement will enable our trusted professionals to set the standard for employee excellence and customer service.

What should we write in vision statement? ›

A vision statement outlines the company's long-term goals and aspirations for the future in terms of its long-term growth and impact on the world. Your mission defines what your organization does and what you stand for, while your vision statement speaks to your goals and ideals for the future.

What is the vision of the auditor general? ›

Our Vision

To be an Independent Supreme Audit Institution that effectively promotes Accountability, Transparency and Integrity in the use of Public Resources.

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