Which standard is particularly significant in enhancing accountability in internal auditing?

The International Standards for the Professional Practice of Internal Auditing (IPPF) is especially significant in enhancing accountability in internal auditing because it provides a framework that outlines the standards, ethics, and guidance that internal auditors must adhere to while conducting their work. These standards promote professionalism and integrity, which are crucial for maintaining the trust of stakeholders in the internal audit function.

The IPPF also emphasizes the importance of independence and objectivity in the auditing process, which directly contributes to accountability. By adhering to these standards, auditors can ensure that they perform their duties ethically and effectively, thereby holding themselves accountable for the outcomes of their audits. Furthermore, the IPPF sets out performance expectations and responsibilities, which helps internal auditors demonstrate their value and ensure that they are held to a high level of performance.

In contrast, while the Sarbanes-Oxley Act Guidelines guide financial reporting and corporate governance, its focus is primarily on external auditors and publicly traded companies rather than internal auditing specifically. ISO 27001 pertains to information security management systems and does not directly address internal audit accountability. Generally Accepted Auditing Standards (GAAS) are primarily associated with external financial audits, rather than the internal auditing context where the IPPF is fully applicable.