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ISACA Standards in Internal Auditing

The document discusses ISACA standards and the proper role and responsibilities of internal auditors. It provides three key points: 1. The ISACA performance standard requires internal auditors to focus on independence and objectivity when undertaking non-audit activities and consider how their actions could impact the organization. 2. According to the code of ethics, internal auditors must perform their duties professionally and in accordance with standards, rather than focusing on non-audit responsibilities. 3. Internal auditors should always act in accordance with their role and follow the code of ethics to maintain quality, rather than engage in counterproductive activities or tasks not assigned to them.

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Kevin Jeason Perdido
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13 views2 pages

ISACA Standards in Internal Auditing

The document discusses ISACA standards and the proper role and responsibilities of internal auditors. It provides three key points: 1. The ISACA performance standard requires internal auditors to focus on independence and objectivity when undertaking non-audit activities and consider how their actions could impact the organization. 2. According to the code of ethics, internal auditors must perform their duties professionally and in accordance with standards, rather than focusing on non-audit responsibilities. 3. Internal auditors should always act in accordance with their role and follow the code of ethics to maintain quality, rather than engage in counterproductive activities or tasks not assigned to them.

Uploaded by

Kevin Jeason Perdido
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as DOCX, PDF, TXT or read online on Scribd

Kevin Jeason Perdido 01 Task Performance 1

I. ISACA Definition and Function


1. The performance standard was the ISACA standard that was failed in the case
described previously. It is said that aAs an internal auditor, you must focus on the
company's independence and objectivity in the case where the professional
accountant undertakes a non-audit activity. They would consider the
repercussions of not acting appropriately in light of their position, as this has an
impact on the agency's functioning.
2. According to the code of ethics, employees must "do their responsibilities with
due attention and professionalism, in accordance with professional best practices
and standards." They failed the performance criterion, and internal auditors did
not perform their work properly because they occasionally concentrated on non-
audit responsibilities, according to my response to the prior question.
3. Acting correctly based on your position and continuously keeping the code of
ethics in mind are two possible steps that can be performed to maintain the
quality that is being broken. Do not engage in counter; instead, focus on the
activities that have been assigned to you.

II. Organization of Audit Function


Question no.1
* Provide a risk-based internal audit schedule at least once a year.
* Ensuring that the internal audit department is equipped with sufficient
competency and expertise tools.
* Managing the operation in a way that permits it to meet its objectives.
* Verify that the ISACA standard is followed.
* Disclosing the outcomes of its work and ensuring that agreed-upon disciplinary
procedures are carried out.
Question no.2
While most audit firms aren't familiar with software, the first step in managing my
audit position's resources should be to maintain or improve their proficiency by
upgrading current skills and obtaining specific operating system training.
Competence and experience should be considered when a firm wants to audit
and assigns personnel to specific audit roles to avoid future dangers, because an
absence of both would affect the entire software.

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