📊 Slides
Foundations of Internal Auditing and Professional Standards

Introduction to Internal Auditing

This segment covers the core purpose, scope, and value of internal auditing within an organization.

  • Definition of internal audit
  • IIA International Professional Practices Framework (IPPF)
  • Code of Ethics
  • Fundamental principles of professional practice
  • Objectivity, competence, and integrity
  • Guidelines for internal auditors
Internal audit is defined as an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. The IIA's IPPF sets the international standards for the practice of internal auditing, including the Code of Ethics and fundamental principles. Internal auditors must uphold objectivity, competence, and integrity in their work, following guidelines to ensure effective and ethical auditing practices.
Internal auditing plays a crucial role in providing independent and objective assurance to organizations. Adhering to professional standards and ethical guidelines is essential for internal auditors to maintain credibility and integrity.