[Congressional Record Volume 162, Number 102 (Friday, June 24, 2016)]
[Extensions of Remarks]
[Page E995]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          THE INSTITUTE OF INTERNAL AUDITORS' 75TH ANNIVERSARY

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                           HON. JOHN L. MICA

                               of florida

                    in the house of representatives

                         Friday, June 24, 2016

  Mr. MICA. Mr. Speaker, I rise today to recognize and congratulate an 
organization from Florida's 7th Congressional District, located in 
Altamonte Springs. This July, The Institute of Internal Auditors (IIA) 
celebrates its 75th anniversary.
  As many of my colleagues know, internal auditors play a vital role in 
maintaining public trust in our institutions. Whether it is protecting 
shareholder value at large publicly traded companies or ensuring 
appropriate use of taxpayer dollars in federal, state or local 
government, the internal auditor is ever-vigilant in ensuring that our 
institutions operate effectively. For 75 years, The IIA has helped 
inspire and educate generations of internal auditors who play a crucial 
role in our nation's success.
  The IIA was founded in 1941 in New York City by a core group of 24 
internal auditors with the intention of bringing the practice of 
internal auditing to the forefront of American business. These initial 
members of The IIA created many of the core principles and best 
practices we see in internal audit functions across the United States 
and world today. While the organization began with only two dozen 
members, it now includes more than 185,000 worldwide, with 63,000 in 
the United States.
  In effective risk management and control, there are three lines of 
defense for shareholders and taxpayers who want to see our institutions 
play by the rules. The first line of defense is management. The second 
line of defense is compliance and oversight functions established by 
management. The final line of defense is independent assurance of 
compliance and control through an internal audit.
  The IIA is the internal audit profession's global voice, recognized 
authority, acknowledged leader, chief advocate and principle educator. 
The IIA is a trusted resource, providing key standards, guidance and 
certifications for the internal audit profession.
  Further, The IIA's certification programs ensure that internal 
auditors are recognized as employing the highest standards to protect 
shareholder value and to ensure proper compliance and risk management 
procedures are followed. The IIA and its members are truly the leaders 
of the internal audit profession and are consistently recognized 
internationally as an organization setting industry standards.
  I have personally had the opportunity to meet with and discuss 
today's challenges with The IIA over the years. I am proud of the work 
its members do and how their organization is run.
  Mr. Speaker, I ask my colleagues to join me in applauding The IIA and 
its more than 63,000 members in the United States for their hard work 
over the past 75 years, all they have accomplished, and all they will 
accomplish in the future.

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