Core Principles, Standards, and Code of Conduct for Internal Auditors

Learning Objectives

• To explain the importance of internal audit standards and their role in shaping the profession.
• To recognize the core principles of internal auditing and their significance in achieving the mission of the IA function.
• To identify challenges faced by internal auditors in maintaining competence, independence, and objectivity.
• To explore alternatives and strategies for addressing issues related to competence, undue influence, and positioning within the internal audit activity.

Course Description

Corporate management personnel often lack awareness that internal auditors operate under defined Standards and guidelines set by the profession. 

Internal audit is not universally perceived as a profession bound by established Standards, and practitioners do not hold a formal "license to practice." This raises the question: Why are Standards essential for internal auditors? In this online CPE part 1 of the series ‘Internal Auditor Standards’ course, we will delve deeper into the significant components of these Standards, elucidating their implications for the internal audit profession. 

A value-oriented internal audit function goes beyond mere compliance; it entails a profound understanding of the International Professional Practices Framework (IPPF) Standards. This understanding allows internal auditors to articulate the importance of these Standards to the management. Failure to acknowledge the Standards may position the internal audit group as solely a quality assurance function, a distinction that organizations should be able to make. This webinar seeks to address these nuances and foster a more informed perspective on the role of Standards in internal audit.

Major Topics covered:

• Mission of Internal Audit 
• Mandatory Guidance 
• Core Principles - Challenges and Alternatives 
• Definition of IA - Challenges and Alternatives 
• Code of Ethics - Challenges and Alternatives 
• Standards- Introduction

Come and be a part of this CPE Auditing Course that provides valuable knowledge on how to establish a successful and value-oriented internal audit function by aligning with professional standards and principles.

Overview

• Internal Audit Mission

  7 mins
• Principle competence and due care

  21 mins
• Competence alternatives

  34 mins
• Principle: Positioning and Resourcing

  57 mins
• Standard indicate positioning should be "appropriate"

  78 mins
• Code of Ethics

  92 mins
• Rules of conduct

  103 mins