TX HB3666

Updates the statutory purpose of internal auditing to emphasize strengthening an organization's ability to "create, protect, and sustain value" through independent, risk-based, and objective assurance, advice, insight, and foresight

Adds a new definition for "advisory services" as consulting and client service activities that add value and improve operations without providing assurance or taking on management responsibilities, including counsel, facilitation, and training

Modernizes terminology in audit requirements by changing "accounting systems" to "financial systems," "administrative systems" to "operational or administrative systems," and "electronic data processing systems" to "information technology systems"

Requires internal auditors to communicate advisory and assurance services engagement results in addition to preparing audit reports

Mandates that internal audit programs conform to the Global Internal Audit Standards promulgated by the Institute of Internal Auditors, replacing references to the previous Professional Practices Framework and generally accepted government auditing standards