SIA 390 covers what happens to observations after the report: monitoring and closing open issues from earlier audits, independently validating the corrective action the auditee says it has taken, escalating delays, and reporting status to those charged with governance on time.
This page covers SIA 390 as it stands in ICAI’s October 2022 compendium. ICAI’s February 2026 compendium, applicable from 1 April 2026, renumbers the standards, so check the current number and text in that compendium before citing it in a report.
Paragraph numbers refer to SIA 390 as it appears in ICAI’s Compendium of Standards on Internal Audit (as on 1 October 2022). The points below are close paraphrases, not quotations.
The file checklist and the mistakes above are practice points drawn from the requirements of the standard. They are not text from the standard.
The IIA's Global Internal Audit Standards (effective 9 January 2025) are a separate set from a different body, and there is no paragraph-for-paragraph match. The closest IIA principle is Communicate Engagement Results and Monitor Action Plans.
This standard is described here as it stands in the October 2022 compendium, which is the earlier set. ICAI's Internal Audit Standards Board lists its Compendium of Standards on Internal Audit (as on February 2026) as applicable from 1 April 2026 (source: the Board's compendium page, checked on 1 October 2026). That compendium renumbers the standards, so check the current number and text there before citing this standard in a report. ICAI's compendium page does not say whether the standards are mandatory or recommendatory, so we do not describe any standard as mandatory. The effective-date clause in each 2019 standard said it applied to internal audits beginning on or after a date to be notified by the Council of ICAI.
These pages summarise each standard as it stands in ICAI's Compendium of Standards on Internal Audit (as on 1 October 2022), working from an extract of that document. They are summaries and close paraphrases, not the text of the standards. ICAI's Internal Audit Standards Board lists its Compendium of Standards on Internal Audit (as on February 2026) as applicable from 1 April 2026 (source: the Board's compendium page, checked on 1 October 2026). For that current set we have only the titles, taken from the Board's 2025-26 annual report; its text is available from ICAI through a registration form on the compendium page and is not summarised here. ICAI's compendium page does not say whether the standards are mandatory or recommendatory, so we do not describe any standard as mandatory. Before you cite a number, a paragraph or a status in a report, check the February 2026 compendium. internalaudit.icai.org
Editable formats and tools from CORAA’s internal audit library that put SIA 390 into practice. Free to use.
SIA 390, Monitoring and Reporting of Prior Audit Issues, is a Standard on Internal Audit issued by the Internal Audit Standards Board of ICAI. SIA 390 covers what happens to observations after the report: monitoring and closing open issues from earlier audits, independently validating the corrective action the auditee says it has taken, escalating delays, and reporting status to those charged with governance on time.
It depends on the risk of the issue. SIA 390 para 4.2 tiers the evidence: follow-up audit procedures for high-risk and fraud-risk issues, documentary proof for medium-risk issues, and written management confirmation for low-risk issues. Para 3.2 requires the internal auditor to validate closure independently and document it.
ICAI's compendium page does not say whether the Standards on Internal Audit are mandatory or recommendatory, so we do not describe SIA 390 as mandatory. ICAI's Internal Audit Standards Board lists its Compendium of Standards on Internal Audit (as on February 2026) as applicable from 1 April 2026 (source: the Board's compendium page, checked on 1 October 2026). SIA 390 as described on this page is from the earlier October 2022 compendium. The February 2026 compendium renumbers the standards, so check the current number and text there before citing it in a report.
A tracker of every open issue with owner, due date and status. For each closed issue, the closure evidence appropriate to its risk and the internal auditor's own validation. Escalation records for overdue actions. Written risk acceptance from management, or the note of unaddressed risks, where an action was not implemented. The periodic action taken reports sent to management and the Audit Committee.
