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INTRODUCTION TO INTERNAL AUDITING (THE INSTITUTE OF INTERNAL AUDITORS…
INTRODUCTION TO INTERNAL AUDITING
HISTORY OF INTERNAL AUDITORS
IT WAS ESTABLISHED IN THE USA
A NEED FOR CONTROL ACTIVITIES
TO BE AN ASSISTANT TO MANAGEMENT
TIMELINE OF THE IIA
VARIOUS PROGRAMS WERE ESTABLISHED THROUGH THE YEAR. SINCE THE EARLY 1940's to 2016. PROGRAMS SUCH AS THE IIA.CIA,CPA,COSO I TO III,PFMA,PPF,MFMA. ALL THESE WERE CREATED TO MAKE THE LIFE OF AUDITORS TO BE EASIER AND ALSO HAVE DIFFERENT CLASSIFICATION OF AUDITORS AND ALSO HAVE THE RULES AND REGULATIONS OF WHICH AUDITORS MUST FOLLOW TO WORK EFFICIENTLY
A NEED FOR AUDITORS
THE EFFECT OF INCREASE IN THE NUMBER OF TRANSACTIONS.
TO ASSESS THE USE OF FUNDS WITHIN THE ORGANISATION
HELP IMPROVE GOVERNANCE,RISK MANAGEMENT,AND CONTROL PROCESS WITHIN THE ORGANISATION
INTERNAL AUDITORS WITHIN WORKPLACE OR THE ORGANISATION
INTERNAL AUDITORS EXPANDED FROM BEING WATCHDOGS(ASSURANCE) TO (CONSULTING)GUIDE DOGS
ASSESSING PERFORMANCE ON WHETHER IS EFFECIENTLY,ECONOMICALLY AND EFFECTIVELY
: :
INSTITUTE OF INTERNAL AUDITORS IN SOUTH AFRICA
ESTABLISHED IN 1964 AS NON PROFIT ORGANISATION UNDER SECTION 21 OF THE COMPANIES ACT
ASSIST MEMBERS IN COURSES,SEMINARS,TECHNICAL PRODUCTS,ACCREDITATION WITHIN AUDITORS IN SA
THE INSTITUTE OF INTERNAL AUDITORS TODAY
PURPOSE OF THE IIA TODAY IS :PROGRESS THROUGH SHARING
CORE PURPOSE IS TO LEAD AUDITORS GLOBALLY AND ADVANCE THE AUDITORS VALUE
THE VISION IS TO GET THE INTERNAL AUDITORS PROFESSION TO BE RECOGNIZED UNIVERSALLY
THE GOALS IS TO SHARE KNOWLEDGE ABOUT THE PROFESSION ON A LOCAL AND ON AN INTERNATIONAL BASIS
TO BE SEEN AS THE VOICE OF INTERNAL AUDITORS
LEGISLATION AND CODES
KING REPORT ON CORPORATE GOVERNMENT
COSO REPORT
THE KING REPORT III
PUBLIC FINANCE MANAGEMENT ACT
DEFINITION OF THE IIA
HELP MANAGEMENT AND THE BOARD TO REACH OBJECTIVES
HELP MANAGEMENT TO EFFECTIVELY DO THEIR DUTIES
BY MAKING RESEARCH APPLICABLE AND MAKING ANY NECESSARY CHANGES IF ANY DISHONEST BEHAVIOR IS FOUND
THE INTERNATIONAL PROFESSIONAL PRACTICES FRAMEWORK
MISSION OF INTERNAL AUDITING
-PROTECT ORGANISATIONAL VALUES -BY PROVIDING RISK BASED -OBJECTIVE ASSURANCE
CODE OF ETHICS
PROMOTE AN ETHICAL CULTURE IN THE INTERNAL AUDIT PROFESSION. ONLY APPLICABLE TO THE IIA MEMBERS WHO PERFORM INTERNAL AUDIT SERVICE
INTERNATIONAL STANDARDS FOR THE PROFESSIONAL PRACTICES
ROLE OF AUDITORS
IN THE BUSINESS ENVIRONMENT IS TO EVALUATE THE GOVERNANCE OF THE ORGANISATION. RISK MANAGEMENT OF THE ORGANISATION. PUT IN INTERNAL CONTROL TO MAKE THE OBJECTIVES ARE MET WITHOUT HAVING TOO MANY RISKS INVOLVED