Special Correspondent

IIA evolving framework for corporate governance in India

CHENNAI: The Institute of Internal Auditors (IIA), Florida, United States, is focussing on risk assessment, internal control and governance and laying emphasis on evolving a framework for corporate governance in India.

IIA president Dave Richards, who is in Chennai in connection with the 30th All-India Conference of Internal Auditors, told presspersons on Thursday that the roles of chartered accountants and internal auditors were distinctive, though some functions overlapped.

Calling for spreading more professionalism among the internal auditors worldwide, Mr. Richards said the IIA was closely monitoring their functioning in 166 countries through the feedback provided by the local chapters.

The IIA, with 1,20,000 members, will offer a university-affiliated undergraduate or masters degree, with the local chapter acting as a nodal agency. "We are raising a couple of million dollars this year, and those institutes which are willing to apply for this funding could do so through the local chapter," Mr. Richards said.

He lauded the IIA Madras Chapter for making a small beginning recently, introducing a six-month diploma course, in association with Madras University, taking in 35 students, most of them employed.