The Institute for Internal Controls (IIC) is the premiere professional body of internal control professionals in the world. IIC is actively engaged in advocacy for the internal control profession, developing professional standards, conducting best practice research and providing members access to tools and resources. IIC also supports career development and continuing professional education and offers certification and networking opportunities. For many years, IIC has advanced the careers of practitioners who make internal control and corporate governance essential for any business.
History
In 2003, IIC was established by a group of auditing professionals and educators. They were concerned with the failure of the auditing and oversight professions in uncovering and preventing the high profile financial frauds that have occurred over the recent years. After the initial meeting of the group, the Institute was incorporated in Southern New Jersey, outside of Philadelphia. IIC has grown to over 5,000 members and affiliates since then and is now represented globally such as in the Middle East and the Asia Pacific.
Philosophy
The Institute was created as a reaction of accounting professionals, consultants, and educators who were concerned with the failure of the various oversight organizations in preventing and detecting the massive financial failures that occurred in recent years. This, together with the present day announcements of continuing accounting irregularities, is causing a black mark on our profession that must be addressed. In addition to the regulatory changes that have been implemented during the last two years, the philosophy of The Institute is that there is a need to change the profession to address all areas of internal controls, including management controls, financial controls, operational controls, IT controls, physical security controls, and risk management.
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