Ac562 Week1 Assignment

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Code of ethics: a. Integrity which establishes trust and thus provides the basis for reliance on their judgment. b. Objectivity which exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. c. Confidentiality which 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. d. Competency which auditors apply the knowledge, skills, and experience needed in the performance of internal audit services Rules of conduct are: a. Integrity Internal auditors: 1. Shall perform their work with honesty, diligence, and responsibility. 2. Shall observe the law and make disclosures expected by the law and the profession. 3. Shale 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. 4. Shall respect and contribute to the legitimate and ethical objectives of the organization. b. Objectivity Internal auditors: 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. Shall not accept anything that may impair or be presumed to impair their professional judgment. 3. Shall disclose all material facts known to them that, if not disclosed, may distort the reporting of activities under review. c. Confidentiality Internal auditors: 1. Shall be prudent in the use and protection of information acquired in the course of their duties. 2. Shall not use information for any personal gain or in any manner

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