Institution Internal and External Financial Audits
Internal Audit
Financial Audit Reports
Purpose
Responsibilities
Authority
Procedures
Organization
Professional standards and code of ethics
External Audit
Purpose
Responsibilities
Independence from Clients
Authority
Procedures
Organization
Professional standards and code of ethics
Integrity - The integrity of internal auditors establishes trust and thus provides the basis for reliance on their judgement.
Objectivity - Auditors exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. Internal auditors make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgements.
Confidentiality - Internal auditors respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.
Competency - Internal auditors apply the knowledge, skills and experience needed in the performance of internal auditing services.