What is the primary purpose of the IPPF?

The primary purpose of the International Professional Practices Framework (IPPF) is to provide a comprehensive structure that aids internal auditors in their work. By organizing internal auditing guidance effectively, the IPPF ensures that auditors have timely access to the standards, protocols, and best practices that govern the profession. This accessibility enables auditors to perform their duties more efficiently and in line with both internal and external expectations, thereby enhancing the overall quality and effectiveness of internal audits.

The framework encompasses various components, including standards, guidance, and resources that are critical for professionals in the field. This organization helps to establish consistency in practices and fosters a shared understanding of internal audit processes, which aligns with the objective of advancing the profession as a whole.

While compliance with regulatory requirements is an important aspect of internal auditing, it is not the primary focus of the IPPF. Instead, the IPPF emphasizes providing the necessary tools and guidance for auditors to achieve their goals, which indirectly supports compliance by ensuring that auditors are well-equipped to assess and manage risk effectively. Similarly, the roles of external auditors and financial auditing are relevant but are not the central purpose of the IPPF, which primarily focuses on the internal audit profession.