The International Association of Independent Private Sector Inspectors General — IAIPSIG — is a nonprofit professional association whose mission is to preserve and promote integrity, honesty, impartiality and professionalism in the work of IPSIGs, monitors and independent investigators.

IPSIGs function to monitor an organization's compliance with relevant laws and regulations and to prevent, uncover and report illegal acts within and against a monitored organization. IPSIGs also function to help the organization enhance corporate efficiencies, raise and maintain ethical standards and promote cultural change. The catchphrase of IAIPSIG is: “Good ethics are good business.”

Founded in 1994 by a group of distinguished current and former prosecutors and law enforcement officials, IAIPSIG consists primarily of law firms, investigative firms and forensic accounting firms that provide IPSIG and IPSIG-type services in compliance with the IAIPSIG Code of Ethics. IAIPSIG is a forum for the exchange of ideas by its members as well as a means of providing the public with information about the IPSIG concept and the work of IPSIGs, integrity monitors and independent investigators.

There is a growing demand for the type of services IPSIGs offer.

... in the public sector:

Government agencies in New York City and beyond operate programs that use IPSIG and IPSIG-type monitoring methods. If integrity questions arise about a contractor, that contractor — as a condition of the contract — may be required to hire a private watchdog to ensure that the contractor is operating its business in compliance with the law and that anti-fraud procedures are in place. Federal agencies now routinely require companies to hire independent oversight as a condition of settling fraud charges. Courts require companies to hire monitors as part of a deferred prosecution agreement. Some companies also continue using the IPSIG firm's services voluntarily. As one company president put it: "It gives us a marketing advantage, and a tool that protects our private clients as well."

... and in the private sector:

Corporations are increasingly turning to independent investigators and monitors to help ensure integrity in the operations of the company and its subsidiaries. Labor unions hire independent monitors to monitor their leaders and membership. Federal corporate sentencing guidelines and the self-reporting programs of various federal government departments reward companies that police themselves and punish those that do not. The consequences of a fraud and corruption scandal are dire. There is a real incentive for companies to monitor themselves for wrongdoing and to correct and report it before a scandal breaks that could threaten the very existence of the company.

IAIPSIG believes that adherence to the values of integrity, honesty, impartiality and professionalism are fundamental to the effectiveness and credibility, and hence the prosperity, of the IPSIG profession. IAIPSIG members believe that the IPSIG profession will stand on its dedication to ethical principles and standards of conduct.

Integrity and Honesty
IAIPSIG members strive to be focused and objective in their fact gathering, fact finding, analysis, and reporting activities on behalf of monitored organizations. IAIPSIG members must be guided by a singular dedication to the assignment, untainted by self-interest, outside interests or conflicts of interest. (Examples of conflict situations are set forth in the IAIPSIG Code of Ethics.)

It is unethical for an IAIPSIG member to undertake an assignment with less than complete diligence. Doing a less than thorough job in order to provide, or acquire a reputation for providing, host organizations with a clean bill of health is antithetical to the goals of IAIPSIG, since the organization can hold itself out as having oversight that in fact is ineffective. IAIPSIG, through its Code of Ethics, strives to prevent implicit or actual bargains between IPSIGs and monitored entities that would undermine the credibility of the IPSIG profession.

Impartiality
Are investigators who are assigned to detect and prevent corporate fraud actually doing fact-finding missions or are they doing damage control for the corporations that are paying their fees? IAIPSIG Members strive to assure that “independent” monitoring and investigations are truly independent. One of the chief goals of IAIPSIG is to put to rest any concerns about objectivity.

IPSIGs are authorized to independently report any unethical and illegal conduct they uncover to a higher authority such as a Board of Directors, government agency or court, without the specific pre-approval of the monitored organization. This autonomy helps guarantee the integrity of monitoring and the independence of investigations, since the IPSIG cannot be “captured” by the organization and used by it as a façade of legitimacy.

Professionalism
The IPSIG brings to bear on organizational issues its unique expertise, which combines legal, investigative, auditing, loss prevention and management skills in a complementary and mutually supportive interrelationship.

A member of the IAIPSIG need not possess all those skills but must have at least one of those skills, regularly practice in that profession, and demonstrate by experience and/or training the ability to participate with other professionals in an IPSIG team.