Pronunciation: [ˈɪpf] (IPA) 
The spelling of the acronym IPPF is determined by the International Phonetic Alphabet (IPA). In IPA, the word is spelled /ˈaɪpiːˌɛfˈpiː/. The first sound, /aɪ/, represents the sound of the English diphthong "ai". The following "p" sounds, /pi/ and /p/, both represent the consonant sound "p". Finally, the sound at the end, /iː/, represents the long "ee" vowel sound. Thus, IPPF is spelled phonetically as "ai-pee-pee-ef-ee."
The International Professional Practices Framework (IPPF) is a globally recognized set of standards, guidelines, and best practices established by The Institute of Internal Auditors (IIA). The IIA is an international professional association, representing internal auditors worldwide.
The IPPF serves as a comprehensive and authoritative resource for internal auditors, guiding them in performing their role effectively and efficiently. It outlines the fundamental principles and mandatory guidance that internal auditors should adhere to when conducting their work.
The framework is comprised of two key components: the International Standards for the Professional Practice of Internal Auditing (Standards) and the Code of Ethics. The Standards provide a set of requirements and expectations that internal auditors must meet, covering areas such as governance, risk management, internal control, and audit planning and reporting. The Code of Ethics establishes the principles and rules of conduct that internal auditors should follow to maintain integrity, objectivity, confidentiality, and professionalism while performing their duties.
The IPPF promotes the principles of independence, objectivity, competence, and confidentiality, which are crucial for the effective and ethical practice of internal auditing. It emphasizes the importance of auditing as a key component of good governance and risk management in organizations.
By adhering to the IPPF, internal auditors can ensure that their work is consistent, reliable, and of the highest quality, contributing to the overall success and integrity of the organizations they serve.
