Professional Documents
Culture Documents
Cia17 Cia1 Su1 TF
Cia17 Cia1 Su1 TF
Applicable Standards
a.
The Institute of Auditors (The IIAs) International Professional Practices Framework (IPPF)
contains both mandatory guidance and strongly recommended guidance.
1)
b.
The mandatory guidance consists of the Definition of Internal Auditing, the Code of
Ethics, and the Standards.
2) Strongly recommended guidance describes practices for effective implementation
of the mandatory guidance. The three elements of strongly recommended guidance
include position papers, practice advisories and practice guides.
The purpose of the internal audit activity is to
1)
2)
2.
Code of Ethics
a.
b.
3.
The IIAs Code of Ethics applies to both entities and individuals that perform internal audit
services.
The core principles of The IIAs Code of Ethics are integrity, objectivity, confidentiality,
and competency.
The purpose, authority, and responsibility of the internal audit activity must be formally
defined in an internal audit charter, consistent with the Definition of Internal Auditing, the
Code of Ethics, and the Standards.
1)
b.
c.
The chief audit executive must periodically review the internal audit charter and
present it to senior management and the board for approval.
The internal audit charter establishes the internal audit activitys position within the
organization; authorizes access to records, personnel, and physical properties relevant to
the performance of engagements; and defines the scope of internal audit activities.
The chief audit executive (CAE) is responsible for periodically assessing whether the
internal audit activitys purpose, authority, and responsibility, as defined in the internal audit
charter, continue to be adequate to enable the activity to accomplish its objectives.
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