Which standard outlines the principles for internal auditing?

The International Standards for the Professional Practice of Internal Auditing (IPPF) is the standard that clearly outlines the principles for internal auditing. It serves as a framework for the competencies and practices that internal auditors should follow in order to maintain a high degree of professionalism and effectiveness in their work. The IPPF includes a wide array of guidelines and standards that emphasize the ethical conduct, professional standards, and the need for ongoing education in the field of internal auditing.

This standard greatly contributes to the enhancement of internal audit practices throughout organizations globally by providing a consistent structure that auditors can rely on. It helps ensure that internal auditing is both effective and aligned with the best practices recognized worldwide, thus enhancing the credibility and reliability of the audit functions.

The other options do not serve as comprehensive standards for outlining internal auditing principles. While the Internal Audit Standard Framework and the Global Audit Principles may have relevance in the field, they do not hold the same authoritative standing or recognition as the IPPF. The Code of Ethics for Auditors provides ethical guidelines specifically, rather than a broad framework for internal audit practices as a whole.