Formal internal audit functions are now reasonably common in larger charities. This is partly due to the complexities of even relatively modest organisations, but is also a result of charities’ governance model. Trustees are by definition part-time and reliant on systems of assurance for them to operate effectively.

The new code of practice should be applied in conjunction with the existing international professional practices framework published by the Global Institute of Internal Auditors, which includes the International Standards for the Professional Practice of Internal Auditing. The new code seeks to increase the effectiveness and impact of internal audit within organisations by clarifying expectations and requirements.