> Risk > Comparing the draft IIA Standards and the Core Principles for Effective Internal Audit
Comparing the draft IIA Standards and the Core Principles for Effective Internal Audit
One of the points I made in my review of the draft was that it is not consistent with the Core Principles for Effective Internal Auditing.
I have asked whether the principles on which the draft is based are the right principles.
Here is a comparison. My apologies for the formatting with lots of unnecessary white space (a defect in the editor).
| Current Core Principles and my comments | Principles in Draft Standards |
| Demonstrates integrity. This is in the draft. | Principle 1 Demonstrate Integrity Internal auditors demonstrate integrity in their work and behavior. |
| Demonstrates competence and due professional care. This has been divided. | Principle 3 Demonstrate Competency Internal auditors apply the knowledge, skills, and abilities to fulfill their roles and responsibilities successfully. Principle 4 Exercise Due Professional Care Internal auditors apply due professional care in planning and performing internal audit services. Principle 5 Maintain Confidentiality Internal auditors use and protect information appropriately. |
| Is objective and free from undue influence (independent) This one has been divided… |
