Which professional organization focuses on internal audit standards?

The Institute of Internal Auditors (IIA) is recognized as the professional organization that specifically focuses on establishing and promoting internal audit standards. The IIA provides a framework for internal auditing through comprehensive standards, guidance, and best practices. This organization aims to enhance the professionalism of internal audit activities and ensures that auditors within this field meet high-quality standards in their work.

The IIA is instrumental in the development of the International Professional Practices Framework (IPPF), which includes standards that guide internal auditors on how to perform and manage their responsibilities. By adhering to these established standards, internal auditors can ensure they are fulfilling their roles effectively within their organizations, maintaining objectivity and integrity.

While the other options, such as the American Institute of CPAs (AICPA) and the International Federation of Accountants (IFAC), deal with broader accounting and auditing practices, and the National Association of Federal Credit Unions (NAFCU) focuses on credit union advocacy and regulations, none of them are specifically dedicated to internal audit standards in the same way that the IIA is.