Institute Of Internal Auditors

Organization Overview

Institute Of Internal Auditors is located in Lake Mary, FL. The organization was established in 1992. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Institute Of Internal Auditors employed 242 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Institute Of Internal Auditors is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.

For the year ending 12/2021, Institute Of Internal Auditors generated $59.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $50.9m during the year ending 12/2021. While expenses have increased by 1.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE DYNAMIC LEADERSHIP FOR THE GLOBAL PROFESSION OF INTERNAL AUDITING.ACTIVITIES IN SUPPORT OF THIS MISSION WILL INCLUDE, BUT WILL NOT BE LIMITED TO:* ADVOCATING AND PROMOTING THE VALUE INTERNAL AUDIT PROFESSIONALS ADD TO THEIR ORGANIZATIONS.* PROVIDING COMPREHENSIVE PROFESSIONAL EDUCATIONAL AND DEVELOPMENT OPPORTUNITIES, STANDARDS AND OTHER PROFESSIONAL PRACTICE GUIDANCE, AND CERTIFICATION PROGRAMS.* RESEARCHING, DISSEMINATING, AND PROMOTING KNOWLEDGE CONCERNING INTERNAL AUDITING AND ITS APPROPRIATE ROLE IN CONTROL, RISK MANAGEMENT, AND GOVERNANCE TO PRACTITIONERS AND STAKEHOLDERS.* EDUCATING PRACTITIONERS AND OTHER RELEVANT AUDIENCES ON BEST PRACTICES IN INTERNAL AUDITING.* BRINGING TOGETHER INTERNAL AUDITORS FROM ALL COUNTRIES TO SHARE INFORMATION AND EXPERIENCES.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TRAINING AND EDUCATION FOR INTERNAL AUDITORS


PUBLICATIONS WHICH INFORM INTERNAL AUDITORS AND IIA MEMBERS OF CURRENT PROFESSIONAL ISSUES, STANDARDS, AND PRACTICES


OFFERING EXAMINATIONS ON PROFESSIONAL ISSUES AND CERTIFYING THOSE WHO DEMONSTRATE ACCEPTABLE PERFORMANCE


QUALITY SERVICES:THE MISSION OF QUALITY SERVICES IS TO ELEVATE THE PROFESSIONALISM WITHIN INTERNAL AUDITING. PROPER ELEVATION BEGINS AND ENDS WITH ALIGNMENT OF THE IIA'S INTERNATIONAL STANDARDS FOR THE PROFESSIONAL PRACTICE OF INTERNAL AUDITING, CORE PRINCIPLES, AND THE CODE OF ETHICS. OUR ASSESSMENT PROCESS IDENTIFIES IMPROVEMENT OPPORTUNITIES, COUNSEL TO THE CHIEF AUDIT EXECUTIVE (CAE) FOR SUCCESSFUL PRACTICE IMPLEMENTATION, AS WELL AS PROMOTING THE CREDIBILITY OF THE INTERNAL AUDIT ACTIVITY WITH YOUR STAKEHOLDERS. SERVICES PROVIDED:READINESS ASSESSMENT - IDENTIFIES RISKS TO CONFORMANCE WITH STANDARDS, PROVIDES A BASELINE FOR NEW CHIEF AUDIT EXECUTIVES, AND SUPPORT FOR CREATING A SUCCESSFUL QUALITY ASSURANCE AND IMPROVEMENT PROGRAM (QAIP).SELF-ASSESSMENT WITH INDEPENDENT VALIDATION (SAIV) -APPROACH MEETS THE REQUIREMENTS OF THE STANDARDS FOR AN EXTERNAL ASSESSMENT ONCE EVERY FIVE YEARS.QUALITY ASSESSMENT (QA) - THE MOST COMPREHENSIVE APPROACH SUPPORTS NOT ONLY CONFORMANCE, BUT PROVIDES AN OBJECTIVE ASSESSMENT OF THE ORGANIZATIONS INTERNAL AUDIT ACTIVITY'S EFFECTIVENESS.QUALITY ASSURANCE AND IMPROVEMENT PROGRAM (QAIP) IS REQUIRED ACCORDING TO THE STANDARDS:QUALITY SERVICES IS ALIGNED WITH THE OVERALL MISSION OF THE IIA BY PROMOTING THE VALUE THAT INTERNAL AUDIT PROFESSIONALS ADD TO THEIR ORGANIZATION, ALIGNMENT WITH THE INTERNATIONAL STANDARDS PROMULGATED BY THE IIA AND EDUCATING PRACTITIONERS ON BEST PRACTICES IN INTERNAL AUDITING.


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Board, Officers & Key Employees

Name (title)Compensation
Richard F Chambers
President & CEO (thru 03/2021)
$1,071,209
Anthony Pugliese
President & CEO (as Of 03/2021)
$701,852
William Michalisin
Evp & COO
$606,271
Charles Redding
Evp & Cio
$461,989
Ann S Cohen
Evp & CFO
$449,426
Monica Griffin
SVP & Chief Marketing Offi
$334,266

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ncs Pearson Inc
Professional Testing Services
$2,684,013
P & M Tech Solution
Informational Technology
$773,593
Right Point Consulting Llc
Informational Technology
$562,928
The Cosmopolitan Las Vegas
Event Services
$430,045
Intrado Digital Media
Virtual Platform Services
$420,337
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$55,917,896
Investment income $1,827,162
Tax Exempt Bond Proceeds $0
Royalties $356,683
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,260,243
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $59,361,984

Grants Awarded

Over the last fiscal year, Institute Of Internal Auditors has awarded $85,007 in support to 2 organizations.

Grant RecipientAmount

INTERNAL AUDIT FOUNDATION

Org PageRecipient Profile

Lake Mary, FL

PURPOSE: COMMON BODY OF KNOWLEDGE RESEARCH PROJECT

$80,007

Durham, NC

PURPOSE: GENERAL SUPPORT

$5,000
View Grant Profile

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