A comprehensive summary of chapter 3 of Internal Auditing: an Introduction 6th edition (ISBN:0053)
Contents include:
- Introduction
- Global Internal Auditor Competency Framework
- The Certified Internal Auditor programme
- The ethics of the internal auditor
- Attribute standards
IA Competency
Chapter 3: THE PROFESSIONAL IA Framework
❊ 10 core competencies for IAs set out by IACF:
1. Professional ethics: promote& apply prof 2. Internal audit management: developing and
ethics managing the internal audit function.
3. IPPF: applying the IPPF 4. Governance, risk and control
5. business acumen 6. communication
7. persuasion and collaboration 8. critical thinking
9. internal audit delivery 10. improvement and innovation
❊ Criteria for professionalism:
o service to public ABBREVIATIONS:
o specialized education and training IIA- Institute for IAs
o code of ethics CFIA-competency framework for IAs
o professional association CBOK- common body of knowledge
o publications IPPF- international professional practise
o examinations framework
o licenses CAE- CAE
CoI- Conflict of Interest
❊ Principles IA are required to apply:
Integrity: Establishes trust and basis for reliance on judgement
❊ perform work with honesty, diligence and responsibility
❊ observe law and make disclosures as expected by law
❊ not party to illegal activity, engage in discreditable acts to profession or organisation.
❊ Respect and contribute to legitimate and ethical objectives of the organisation.
Confidentiality Respect value of ownership of information
❊ prudent in use and protection of information acquired in the course of their duties.
❊ not use information for personal gain or contrary to law.
Make balanced assessment of relevant circumstances and are not duly
Objectivity
influenced
❊ Not participate in any activity/relationship that impair unbiased assessment. This includes CoI of
organisation.
❊ Will not accept anything that may impair professional judgement
❊ Disclose all material facts known, if not disclosed, distort the reporting activities under review
Competency Apply knowledge, skills and experience in performance of services.
❊ Shall engage only in services for which they have knowledge, skills and experience
❊ Perform internal audit services in accordance with ISPPIA
❊ Continually improve their proficiency and the effectiveness and quality of their services.
ATTRIBUTE STANDARDS
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