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QUESTION 2 2 0 marks The International Professional Practices Framework ( IPP ) contains four mandatory elements, namely the definition of internal auditing, the code
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The International Professional Practices Framework IPP contains four mandatory elements, namely the definition of internal auditing, the code of ethics, the core principles for the professional practice of internal auditing and the International Standards for the Professional Practice of Internal Auditing.
The International Standards consists of Attribute, Performance and Implementation Standards.
REQUIRED
Marks
Conclude and explain with reference to the IPPF, whether each of the unrelated scenarios below is permissible or not. Please provide reasons for each of your conclusions.
Your answer should be structured as follows:
tableNotablePermissible or notpermissible markReference to IPPF markstableReason mark
In response to a court subpoena, an internal auditor testifies in court regarding confidential, audit related information that could possibly adversely affect the auditor's organisation.
In an effort to save costs, the chief audit executive CAE cancelled all internal audit staff training for the next two years with the justification that all staff were too new to benefit from training.
An internal auditor, who is a CIA, attended the annual national Institute of Internal Auditors IIA conference. After a round of drinks at the gala dinner, he shared confidential information regarding his audit client's pricing strategies with a senior manager of the major competitor of his audit client.
The CAE received a request from the external auditors of the organisation to make available all finalised internal audit reports and follow up reviews to assist them in determining their audit scope of their work. The CAE ignored this request.
AUI
The internal audit function in the organisation was established six
years ago. The CAE received a phone call from a representative
from the IIA regarding an external quality assessment to be conducted on the internal audit function of the organisation. The CAE commented that the external quality assessment was unnecessary since everything in the internal audit function is under control.
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