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Internal Auditing

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by

'Bess Dulay

on 17 September 2013

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Transcript of Internal Auditing

Internal Auditing
Code of Ethics
PURPOSE:
is necessary and appropriate for the profession of internal auditing, founded as it is on the trust placed in its objective assurance about governance, risk management and control
includes two essential components:

PRINCIPLES
RULES OF CONDUCT
-an independent, objective assurance and consulting activity designed to add value and improve an organization's operations.
-helps organizations accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
OUTLINE
FOUR PRINCIPLES
CODE OF ETHICS
INTRODUCTION
OF THE
CODE OF ETHICS
APPLICABILITY AND
ENFORCEMENT
OF THE CODE OF ETHICS
RULES
OF CONDUCT

International Standards for the Professional Practice of
Internal Auditing
Introduction to International Standards
Structure
of the Standards

Code of Ethics
Code of Ethics
Applicability
& Enforcement
applies to both entities
and individuals that perform internal audit services
Principles
integrity
objectivity
confidentiality
competency
integrity
establishes trust and thus provides the basis for reliance on their judgment
objectivity
IA exhibit the highest level of professional objectivity in gathering, evaluating, & communicating information about the activity/ process being examined.
IA make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interest or by others in forming judgments
confidentiality
Competency
IA apply the knowledge, skills and experience needed in the performance of internal audit services
RULES OF CONDUCT
INTERNATIONAL STANDARDS
Attribute standards
[ 1000-1300]
International Standards
conformance with the IIA's International Standards for the Professional Practice of Internal Auditing (Standards) is essential in meeting the responsibilities of the internal auditors and the internal audit activity
STANDARDS
PURPOSE:
are PRINCIPLES-FOCUSED, mandatory requirements consisting of:
STANDARDS
employ terms that have been given specific meanings that are included in the Glossary
MUST
SHOULD
-to specify an unconditional requirement
-conformance is expected unless,
when applying professional judgment
STRUCTURE OF THE STANDARDS
divided between:
Attribute
Performance Standards
ATTRIBUTE STANDARDS
PERFORMANCE STANDARDS
-address the attributes of organizations and individuals performing internal auditing
-describe the nature of internal auditing and provide quality criteria against which the performance of these services can be measured
ASSURANCE SERVICES
CONSULTING ACTIVITIES
The review and development of the Standards is an ongoing process.
ATTRIBUTE STANDARDS
END
next reporter please...
internal audit chapter
independence
objectivity
impairment
professional proficiency
quality assurance and improvement program
-to promote an ethical culture in the profession of INTERNAL AUDITING
IA Respect the value and ownership of information they receive and do not disclose it without appropriate authority unless there is a legal or professional obligation to do so.
conflict
of interest
PRINCIPLES
RULES OF CONDUCT
-relevant to the profession and practices of internal auditing
-describe behavior norms expected of internal auditors
-aid to interpreting the principles into practical applications
-intended to guide ethical conduct of internal auditors
INTERNAL AUDITORS
-institute members, recipients of or candidates for IIA professional certifications, and those who perform internal audit services within the Definition of Internal Auditing
of my report
Full transcript