ACC 621 Lecture : Chapter 9.docx

• School: Ryerson University
• Department: Accounting
• Course: ACC 621
• Professor: Frank Miller

Document Summary

Internal audit where it belongs: chief audit executive (cae, the audit work achieves the purpose and responsibility to the internal audit charter (reports to the board and senior management, conforms to the definition of internal auditing and the standards (see next slide, individuals demonstrate conformance with the code of ethics and the. Code of ethics: has 2 components (principles and rules of content, four principles (12 rules, integrity (diligence and truthfulness) 4 rules, objectivity (balanced assessment, unbiased) 3 rules, confidentiality (prudent use and protection) 2 rules, competency (necessary knowledge and professional certification) 3 rules. International standards (on mc: standards 3 types, attribute standards: address attributes of organization and individuals performing internal auditing, performance standards: describe the natures of auditing and the criteria against performance can be measured, implementation expands on the other 2 types and provides requirements applicable to assurance/consulting activities.