TIAPS Module 1 Audit and Assurance workbook

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A.1: Reflection Do you recognize these characteristics of the public sector in the environment in which you work? Are there additional features that need to be considered? How do each of these characteristics impact your role as an internal auditor and manager? 8
A.2 Public Sector Governance IIA Internal Audit Competency Framework Organizational Governance: General Awareness: Describe the concept of organizational governance. Applied Knowledge: Detect risks related to the organization’s governance policies, processes, and structures. Expert: Recommend improvements to the organization’s governance policies, processes, and structures. 1 Internal audit adds value to its client organization when, among other things, it “strives to offer ways to enhance governance.” 2 Governance can be understood in general terms as the process of governing and is broadly about leading and controlling. It is defined by The Institute of Internal Auditors (IIA) in the glossary of the International Professional Practices Framework (IPPF) as: The combination of processes and structures implemented by the board to inform, direct, manage, and monitor the activities of the organization toward the achievement of its objectives. 3 “Board” is used by The IIA to refer to the “highest level governing body” for an entity, identifiable as the most senior decision-making authority. Public sector boards can take many forms and “governing body” or alternatively “governing authority” is a more common general term. Some government departments or ministries have a clearly defined board whose membership may also include representatives of the private sector and civil society. In a municipality or regional body, typically the council is the governing body in which the mayor may act as both the equivalent of the chairman of the board and the chief executive officer (CEO). In other situations, there is an executive director or manager who heads up operations while the mayor is more of a political figurehead for the city. Generally, in public entities where there is no immediately recognizable board or governing body, then governing responsibilities may be assumed by one of the following: • Head of the organization (minister, etc.) (i.e., a single person). • External oversight committee which could take different forms (e.g., parliamentary committee, government committee, committee represented by different ministries). • Oversight by line ministry or a superior organization. 1 Internal Audit Competency Framework, The IIA, 2022. 2 Standard 2000 – Managing the Internal Audit Activity, International Professional Practices Framework, The IIA, 2016. 3 The International Professional Practice Framework, The Institute of Internal Auditors, 2016 9
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: • Close scrutiny. The activities
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 and 34: According to The IIA Position Paper
Page 35 and 36: B.2: Reflection When was the last t
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
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circumstances (unethical and often
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Management Issues • Lack of area
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Risk management techniques can be a
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IT controls may be manual, automate
Page 69 and 70:
The IIA’s Cybersecurity Toolkit d
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C.3: Reflection Fraud: How are susp
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Global Perspectives and Insights -
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CIPFA: 77 Mansell Street, London E1
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TIAPS Module 1 Audit and Assurance workbook

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