The role of internal audit in implementation of the IFRS

In the new world, most of the countries have accepted the International standards as a global financial reporting framework. In Iran, the big companies that listed in the Tehran Security Exchange obligate to provide financial statements based on the IFRS.With regard the widespread impact of the IFRS on many different aspects of corporate activities, the internal auditing as one of the pillars of corporate governance can play a unique role in implementation of international standards in organization. Thus, this paper examines the role of the internal auditing in converting the general accepted accounting standards to IFRS. The result of this article is that the internal auditors must be involved in the IFRS conversion project actively and it's presence should be done at the right time. In fact, the internal audit function should plays role as a key element before and during the IFRS implementation process. In this regard, adequate training about implementation of international standards is essential for internal auditing.