TIAPS Module 1 Audit and Assurance workbook
• Ensure the internal audit function has free and unrestricted access to all functions, records, property, and personnel pertinent to carrying out any engagement, subject to accountability for confidentiality and safeguarding of records and information. 31 The authority conferred on the internal audit function through its mandate as confirmed in the charter and/or legislation carries with it reciprocal responsibilities for the head of the internal audit function. These include: • Submitting at least annually a risk-based internal audit plan. • Communicating with senior management and the governing body the impact of resource limitations on the plan. • Ensuring the internal audit activity has access to appropriate resources regarding competency and skill. • Managing the activity appropriately for it to fulfill its mandate. • Ensuring conformance with IIA Standards. • Communicating the results of the internal audit function’s work and following up on agreed-to corrective actions. • Coordinating with other assurance providers. • Reporting periodically on the results of quality assurance and improvement program. 32 31 IIA Position Paper: The Internal Audit Charter, The Institute of Internal Auditors, 2019 32 IIA Position Paper: The Internal Audit Charter, The Institute of Internal Auditors, 2019 34
B.2: Reflection When was the last time you reviewed the internal audit mandate? Is the internal audit function able to fulfil all the responsibilities in its mandate? What changes are needed either to strengthen the mandate or enable the function to satisfy its responsibilities? 35
- Page 1 and 2: Module 1: Audit and Assurance TIAPS
- Page 3 and 4: Table of Contents Module 1: Audit a
- Page 5 and 6: Relevant Standards Reference is mad
- Page 7 and 8: • Close scrutiny. The activities
- Page 9 and 10: A.2 Public Sector Governance IIA In
- Page 11 and 12: The need for governance arises for
- Page 13 and 14: Although developed for government a
- Page 15 and 16: A.3 Governance Models When evaluati
- Page 17 and 18: defensive aspects to minimize negat
- Page 19 and 20: A.3.3 CIPFA International Framework
- Page 21 and 22: 8. Ensure that its arrangements for
- Page 23 and 24: • Consideration of overlapping in
- Page 25 and 26: A.3: Reflection Which model or mod
- Page 27 and 28: Although they are related, the prin
- Page 29 and 30: B.1.1 Independence, Objectivity, an
- Page 31 and 32: B.1: Reflection Is it possible to
- Page 33: According to The IIA Position Paper
- Page 37 and 38: When independence or objectivity ar
- Page 39 and 40: B.4 Safeguards for Independence and
- Page 41 and 42: In other cases, there is no audit c
- Page 43 and 44: C. Assurance and Advisory Engagemen
- Page 45 and 46: It is common to build an allowance
- Page 47 and 48: The following list is taken from Sa
- Page 49 and 50: helping managers developing control
- Page 51 and 52: C.1.5 Internal Audit Opinions Audit
- Page 53 and 54: Leadership and Communication Intern
- Page 55 and 56: C.2 Auditing Governance The IIA Sup
- Page 57 and 58: C.2: Reflection How does your inter
- Page 59 and 60: Fraud may be perpetrated via measur
- Page 61 and 62: circumstances (unethical and often
- Page 63 and 64: Management Issues • Lack of area
- Page 65 and 66: Risk management techniques can be a
- Page 67 and 68: IT controls may be manual, automate
- Page 69 and 70: The IIA’s Cybersecurity Toolkit d
- Page 71 and 72: C.3: Reflection Fraud: How are susp
- Page 73 and 74: Global Perspectives and Insights -
- Page 75: CIPFA: 77 Mansell Street, London E1
• Ensure the internal audit function has free <strong>and</strong> unrestricted access to all functions,<br />
records, property, <strong>and</strong> personnel pertinent to carrying out any engagement, subject<br />
to accountability for confidentiality <strong>and</strong> safeguarding of records <strong>and</strong> information. 31<br />
The authority conferred on the internal audit function through its m<strong>and</strong>ate as confirmed in the<br />
charter <strong>and</strong>/or legislation carries with it reciprocal responsibilities for the head of the internal<br />
audit function. These include:<br />
• Submitting at least annually a risk-based internal audit plan.<br />
• Communicating with senior management <strong>and</strong> the governing body the impact of<br />
resource limitations on the plan.<br />
• Ensuring the internal audit activity has access to appropriate resources regarding<br />
competency <strong>and</strong> skill.<br />
• Managing the activity appropriately for it to fulfill its m<strong>and</strong>ate.<br />
• Ensuring conformance with IIA St<strong>and</strong>ards.<br />
• Communicating the results of the internal audit function’s work <strong>and</strong> following up on<br />
agreed-to corrective actions.<br />
• Coordinating with other assurance providers.<br />
• Reporting periodically on the results of quality assurance <strong>and</strong> improvement<br />
program. 32<br />
31<br />
IIA Position Paper: The Internal <strong>Audit</strong> Charter, The Institute of Internal <strong>Audit</strong>ors, 2019<br />
32<br />
IIA Position Paper: The Internal <strong>Audit</strong> Charter, The Institute of Internal <strong>Audit</strong>ors, 2019<br />
34
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