Institute of Internal Auditors (IIA) techni cal and policy director Todd Davies has bid farewell to the association to concentrate on his private consulting business only a week after the launch of the IIA’s contro versial new policy drive.

The decision comes at the comple tion of a two-year contract for Davies, dur ing which he was charged with injecting renewed momentum into the IIA’s advo cacy initiatives by agitating for legislative and industry change.

“My aim for the two years was to cre ate a momentum that would outlast me, and I think that’s well and truly done,” Davies told Risk.

The “pièce de résistance” of his tenure, was the launch of the IIA’s new policy cam paign, which he says will be a “game- changer” in Australia and is already flow ing into IIA’s global standards. The policy, released at the end of February, notably advocates mandatory internal audit re quirements for ASX Top 200 companies.

“The impact of these initiatives should not be underestimated – it will have an im pact on Australia’s competitive position in the world as well as an indirect impact on the lives of most Australians through their super,” he said.

On the legislative front, the IIA has been crucial in advocating the NSW Govern ment’s wholesale review of audit and risk, now partially complete, which has a view to putting high risk standards at the heart of its activities.

Davies has also overseen the creation of a national forum for thought leadership among Australia’s leading heads of audit and risk from ASX 50 companies and the public sector, with 40 organisations now involved. The meetings of the group have “been struc tured in a way to have a ripple effect through out the entire profession,” Davies said.

Following the success of the role, the IIA has created three positions to replace Davies, and is still recruiting. The role is to be split into a policy and advocacy role, a chief auditor position, and a technical manager role.

Davies said he will be doing audit com mittee work with the NSW Government and working with Australian audit firms to drive innovation. He is also independent chairman of private consulting firm Green Collar Group.