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Sikich Introduces IAEdge (TM), a New Internal Audit Compliance Tool Ahead of Updated IIA Standards

Sikich

Nov 11 2024

3 min read

CHICAGO – November 11, 2024 – Sikich, a Chicago-based leading global technology-enabled professional services company, announced IAEdge^TM, a comprehensive tool that combines traditional Quality Assurance Review (QAR) with the Internal Audit Capability Model (IA-CM) framework. With key updates to the Institute of Internal Auditors (IIA) Standards set to take effect in January 2025, IAEdge arrives in time to support organizations in navigating these changes, bolstering compliance and strengthening audit processes.

IAEdge evaluates conformance across 15 principles defined by the IIA Standards while providing a structured pathway for internal audit functions to evolve and mature. This dual approach helps organizations not only meet the IIA requirements but also develop more robust audit processes.

“The evolution of internal audit requires tools that do more than track compliance, they need to drive transformation,” said Steve Randall, principal, Sikich. “By combining standards assessment with maturity modeling, IAEdge helps audit teams not just measure where they are, but map where they’re going. This integrated approach reflects how modern audit departments need to function, which is anchored in standards while continuously advancing their capabilities.”

Updated to reflect the latest IIA Standards, IAEdge ensures internal audit functions not only meet the IIA Standards but gain invaluable insight and a strategic roadmap to elevate the maturity and performance of internal audit. Key features include a report summarizing conformance, a user-friendly dashboard highlighting the maturity across 42 key process areas and recommendations designed for ease of use and quick implementation.

About Sikich

Sikich is a Chicago-based global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services and products to help them improve performance and achieve long-term, strategic goals.

Sikich practices in an alternative practice structure in accordance with the AICPA Professional Code of Conduct and applicable law, regulations, and professional standards. Sikich CPA LLC is a licensed CPA firm that provides audit and attest services to its clients, and Sikich LLC and its subsidiaries provide tax and business advisory services to its clients. Sikich CPA LLC has a contractual arrangement with Sikich LLC under which Sikich LLC supports Sikich CPA LLC’s performance of its professional services. Sikich LLC and its subsidiaries are not licensed CPA firms.

“Sikich” is the brand name under which Sikich CPA LLC and Sikich LLC provide professional services. The entities under the Sikich brand are independently owned and are not liable for the services provided by any other entity providing services under the Sikich brand. The use of the terms “our company”, “we” and “us” and other similar terms denote the alternative practice structure of Sikich CPA LLC and Sikich LLC.

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This publication contains general information only and Sikich is not, by means of this publication, rendering accounting, business, financial, investment, legal, tax, or any other professional advice or services. This publication is not a substitute for such professional advice or services, nor should you use it as a basis for any decision, action or omission that may affect you or your business. Before making any decision, taking any action or omitting an action that may affect you or your business, you should consult a qualified professional advisor. In addition, this publication may contain certain content generated by an artificial intelligence (AI) language model. You acknowledge that Sikich shall not be responsible for any loss sustained by you or any person who relies on this publication.

About the Author

Sikich

Sikich is a global company specializing in technology-enabled professional services. With more than 1,900 employees, Sikich draws on a diverse portfolio of technology solutions to deliver transformative digital strategies and is comprised of one of the largest CPA firms in the United States. From corporations and not-for-profits to state and local governments and federal agencies, Sikich clients utilize a broad spectrum of services* and products to help them improve performance and achieve long-term, strategic goals. *Securities offered through Sikich Corporate Finance LLC, member FINRA/SIPC. Investment advisory services offered through Sikich Financial, an SEC Registered Investment Advisor. 