International professional practices framework Flashcards

1
Q

What are the three elements of mandatory guidance relating to the IPPF?

A

Definition of internal auditing, code of ethics, International standards.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is the definition of internal auditing according to the IIA?

A

Internal auditing is an independent, objective assurance and Consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What are the four principles of the IIA’s code of ethics

A

Integrity, objectivity, confidentiality, and competency.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

What are the two categories that international standards are presented in? (IPPF)

A
  1. Atrribute standards.

2. Performance standards.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

What do attribute standards focus on and what are the 4 primary themes?

A
  1. The IIA’s attribute standards focus on key characteristics of organizations and individuals performing internal audit activities. 2. The 4 primary themes are -purpose, authority, and responsibility - independence and objectivity -Proficiency and due professional care -Quality assurance and improvement program.
How well did you know this?
1
Not at all
2
3
4
5
Perfectly