Internal auditors specifically demonstrate conformance with the confidentiality principle by
Members of IIA Singapore are required to declare that they abide by IIA Global’s Code of Ethics and IIA Singapore’s By-Laws. Disciplinary procedures will be enforced if members fall short of the Code. Show
PRINCIPLESInternal auditors are expected to apply and uphold the following principles:
RULES OF CONDUCT1.1. Shall perform their work with honesty, diligence, and responsibility. 1.2. Shall observe the law and make disclosures expected by the law and the profession. 1.3. Shall not knowingly be a party to any illegal activity, or engage in acts that are discreditable to the profession of internal auditing or to the organization. 1.4. Shall respect and contribute to the legitimate and ethical objectives of the organization. 2.1. Shall not participate in any activity or relationship that may impair or be presumed to impair their unbiased assessment. This participation includes those activities or relationships that may be in conflict with the interests of the organization. 2.2. Shall not accept anything that may impair or be presumed to impair their professional judgment. 2.3. Shall disclose all material facts known to them that, if not disclosed, may distort the reporting of activities under review. 3.1. Shall be prudent in the use and protection of information acquired in the course of their duties. 3.2. Shall not use information for any personal gain or in any manner that would be contrary to the law or detrimental to the legitimate and ethical objectives of the organization. 4.1. Shall engage only in those services for which they have the necessary knowledge, skills, and experience. 4.2. Shall perform internal audit services in accordance with the International Standards for the Professional Practice of Internal Auditing (Standards). 4.3. Shall continually improve their proficiency and the effectiveness and quality of their services. ETHICS COMPLAINT PROCESSES AND FORMProcess for Disposition of Ethical Violation In an effort to strengthen corporate governance processes and practices, IIA Singapore (IIAS) has adopted a Whistle Blowing Policy to provide a means through which IIAS members, employees or members of the public could, in good faith, report any activity that infringes on the IIAS' code of ethics, By-Laws or violates the law so that IIAS may take the relevant action. The Code of Ethics is a statement of principles and expectations governing behaviour of individuals and organisations in the conduct of internal auditing. SummaryRulePrincipleIntegrityThe integrity of internal auditors establishes trust and thus provides the basis for reliance on their judgement.ObjectivityInternal 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.ConfidentialityInternal 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.CompetencyInternal auditors apply the knowledge, skills and experience needed in the performance of internal auditing services.Understanding and building competencies for success. Published July 2018 The Code of EthicsThis is the full text of the Institute's Code of Ethics. The purpose of the Code is to promote an ethical culture in the profession of internal auditing. A code of ethics is necessary and appropriate for the profession of internal auditing, founded as it is on the trust placed in its objective assurance about risk management, control, and governance. The Institute's Code of Ethics provides principles and rules of conduct under four headings:
The Rules of Conduct describe behaviour norms expected of internal auditors. These rules are an aid to interpreting the Principles into practical applications and are intended to guide the ethical conduct of internal auditors. Below they are set out together with the principle they interpret. The Code of Ethics provides guidance to internal auditors serving others. 'Internal auditors' refers to Institute members and those who provide internal auditing services within the definition of internal auditing. Applicability and enforcementThis Code of Ethics applies to both individuals and entities that provide internal auditing services. For Institute members, breaches of the Code of Ethics will be evaluated and administered according to The Institute's Disciplinary Procedures. The fact that a particular conduct is not mentioned in the Rules of Conduct does not prevent it from being unacceptable or discreditable, and therefore, the member liable to disciplinary action. The Code of Ethics1. Integrity PrincipleThe integrity of internal auditors establishes trust and thus provides the basis for reliance on their judgement. Rules of Conduct Internal auditors: 2. Objectivity PrincipleInternal 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. Rules of Conduct Internal auditors: 3. Confidentiality PrinciplePrinciple 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. Rules of Conduct Internal auditors: 4. Competency PrincipleInternal auditors apply the knowledge, skills and experience needed in the performance of internal auditing services. Rules of Conduct Internal auditors: About the Code of EthicsThe Code of Ethics is authoritative guidance for the internal audit profession from the Global Institute of Internal Auditors. It is part of the International Professional Practices Framework. Members of the Chartered Institute of Internal Auditors all agree to follow the Code of Ethics and the Code of Professional Conduct. How can we apply the confidentiality concept in internal audit?Confidentiality Principle
Principle 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.
What are the four 4 principles of the code of ethics of the Institute of Internal Auditors?There are four principles (integrity, objectivity, confidentiality, and competency) and two to four rules of conduct related to each principle that auditors are responsible for upholding.
What are the 3 common methods of internal audit to determine compliance?There are common methods of internal auditing that may be used to determine compliance:. System Audits.. Process Audits.. Product Audits.. How does the internal audit activity demonstrate its professionalism?One of the most important ways internal auditors demonstrate integrity is in reporting their engagement opinions, conclusions, and recommendations.
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