The Institute of Internal Auditors is in the process of developing new standards for the internal auditing profession. The first set of these standards will be implemented with effect from 1 January 2002. The purpose of professional standards is to lay down the minimum requirements to be maintained for acceptable practice. In June 1999, a new formal definition of internal auditing was adopted to address relevant issues with which internal auditing is currently faced. Existing standards, when read in conjunction with the new definition, have deficiencies and these deficiencies have led to the development of new standards for the profession.The purpose of this article is to discuss the limitations of the current standards, to identify the changes incorporated in the new standards, and to evaluate the changes. The article evaluates whether the new standards address the changes in the new definition and highlights the influence of the changes in the standards on the internal auditing profession. The findings are that the new standards are difficult to analyse, especially because the current standards must still be used in conjunction with the new standards, yet the changes successfully address the challenges facing the internal auditing profession.

Internal auditing assumes an increased responsibility for the evaluation of entity operations as a service to management and the board of directors. Quality assurance review is the process through which assurance is obtained that the internal auditing department’s work is done in accordance with the Standards for the Professional Practice of Internal Auditing. This study examines the current practices of quality assurance review in South Africa. Although not all organisations surveyed do perform internal auditing quality assurance reviews, the organisations that do, benefit from them. Various methods are used in practice to perform internal and external quality assurance reviews. This study provides information on the processes and procedures used in quality assurance review programmes.

This article proposes a disclosure framework for the reporting of HIV/Aids-related information in annual reports to address the lack of consistency in current disclosure practices. A literature review was undertaken to determine business risks and responses relating to the disease, followed by an empirical investigation into voluntary disclosure on HIV/Aids by companies listed on the JSE Securities Exchange. The investigation consisted of a thematic content analysis for the period 1998 to 2004. The results of both the literature review and the empirical investigation are used to recommend a disclosure framework that companies can use when reporting on HIV/Aids in their annual reports. The framework recommends the disclosure of HIV/Aids risks and responses by organisations.

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