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IIA Code of Ethics

The document introduces the Code of Ethics for internal auditing. It establishes principles of integrity, objectivity, confidentiality and competency for internal auditors. It also provides rules of conduct to guide ethical behavior and help interpret the principles in practice.

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215 views3 pages

IIA Code of Ethics

The document introduces the Code of Ethics for internal auditing. It establishes principles of integrity, objectivity, confidentiality and competency for internal auditors. It also provides rules of conduct to guide ethical behavior and help interpret the principles in practice.

Uploaded by

achistep
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 DOC, PDF, TXT or read online on Scribd
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Code of Ethics

Introduction to the Code of Ethics


The purpose of The Institute's Code of Ethics is to promote an ethical culture in the profession of internal
auditing.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and
improve an organization's operations. It helps an organization accomplish its objectives by bringing a
systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control,
and governance processes.
A code of ethics is necessary and appropriate for the profession of internal auditing, founded as it is on the
trust placed in its objective assurance about governance, risk management, and control.
The Institute's Code of Ethics extends beyond the Definition of Internal Auditing to include two essential
components:
1.
2.

Principles that are relevant to the profession and practice of internal auditing.
Rules of Conduct that describe behaviour norms expected of internal auditors. These rules are an aid to
interpreting the Principles into practical applications and are intended to guide the ethical conduct of
internal auditors.

Internal auditors refers to Institute members, recipients of or candidates for IIA professional certifications,
and those who perform internal audit services within the Definition of Internal Auditing.
Applicability and Enforcement of the Code of Ethics
This Code of Ethics applies to both entities and individuals that perform internal audit services.
For IIA members and recipients of or candidates for IIA professional certifications, breaches of the Code of
Ethics will be evaluated and administered according to The Institute's Bylaws and Administrative Directives.
The fact that a particular conduct is not mentioned in the Rules of Conduct does not prevent it from being
unacceptable or discreditable, and therefore, the member, certification holder, or candidate can be liable for
disciplinary action.

Code of Ethics:
PRINCIPLES
Internal auditors are expected to apply and uphold the following principles:
1.

Integrity
The integrity of internal auditors establishes trust and thus provides the basis for reliance on their
judgment.
2.

Objectivity
Internal auditors exhibit the highest level of professional objectivity in gathering, evaluating, and
communicating information about the activity or process being examined. Internal auditors make a
balanced assessment of all the relevant circumstances and are not unduly influenced by their own
interests or by others in forming judgments.

3.

Confidentiality
Internal auditors respect the value and ownership of information they receive and do not disclose
information without appropriate authority unless there is a legal or professional obligation to do so.

4.

Competency
Internal auditors apply the knowledge, skills, and experience needed in the performance of internal
audit services.

Issued: January 2009

Code of Ethics

Revised:

Page 1 of 2

RULES OF CONDUCT
1. Integrity
Internal Auditors:
1.1. Shall perform their work with honesty, diligence, and responsibility.
1.2. Shall observe the law and make disclosures expected by the law and the profession.
1.3. Shall not knowingly be a party to any illegal activity, or engage in acts that are discreditable to
the profession of internal auditing or to the organization.
1.4. Shall respect and contribute to the legitimate and ethical objectives of the organization.
2. Objectivity
Internal Auditors:
2.1. Shall not participate in any activity or relationship that may impair or be presumed to impair
their unbiased assessment. This participation includes those activities or relationships that may
be in conflict with the interests of the organization.
2.2. Shall not accept anything that may impair or be presumed to impair their professional
judgment.
2.3. Shall disclose all material facts known to them that, if not disclosed, may distort the reporting
of activities under review.
3. Confidentiality
Internal Auditors:
3.1. Shall be prudent in the use and protection of information acquired in the course of their
duties.
3.2. Shall not use information for any personal gain or in any manner that would be contrary
to the law or detrimental to the legitimate and ethical objectives of the organization.
4. Competency
Internal Auditors:
4.1. Shall engage only in those services for which they have the necessary knowledge, skills, and
experience.
4.2. Shall perform internal audit services in accordance with the International Standards for the
Professional Practice of Internal Auditing.
4.3. Shall continually improve their proficiency and the effectiveness and quality of their services.

Issued: January 2009


Revised:

Code of Ethics
Page 2 of 2

2009 The Institute of Internal Auditors

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