Standard 1130.C2 for The internal audit activity has a The engagement must be
Consulting engagements potential impairments to declined
Code of Ethics – independence or objectivity relating or rejected.
Objectivity to proposed consulting services and A different team of auditors
1130 – Impairment to it was supposed to make disclosure must
Independence or to the engagement client prior to perform the engagement and
Objectivity accepting the engagement this
team should not in future
provide
assurance services relating to
the
merger transactions of the
entity.
Standard 2050 – The assistance given by the internal The chief audit executive
Coordination audit department could have a should
material effect on reducing the share information and
external audit fee, and could mean coordinate
considerable savings for the activities with other internal
undertaking. The degree of saving and
will be directly related to the external providers of
experience and effectiveness of the assurance
internal audit group, and the and consulting services to
materiality of the duties they ensure
perform. proper coverage and minimise
duplication of efforts
Standard 1130.C2 for The internal audit activity has a Internal auditors must refrain
Consulting engagements potential impairment to from doing any tasks that
Code of Ethics – independence or objectivity relating might
Objectivity to proposed consulting services and compromise their future
1130 – Impairment to it was supposed to make disclosure objectivity.
Independence or to the engagement client prior to A different team of auditors
Objectivity accepting the engagement. must
In future, internal auditors will perform the engagement and
suffer self-review threat when they this
review their own work done in the team should not in future
past provide
assurance services relating to
the
developing and implementing
a
new computerised system
Code of Thabiso will lack the required Thabiso must maintain
ethicsCompetency knowledge , skills and competence professional knowledge and
that is necessary for him to perform skill
his tasks. at the level required to ensure
that a client or employer
receives
, competent professional
services
based on current
developments in
practice, legislation and
techniques and act diligently
and
in accordance with applicable
technical and professional
standards.
Code of A member of the Institute of The internal auditor must
ethicsConfidentiality Internal Auditors is not allowed to respect
share confidential information the confidentiality of
acquired through professional information
business relationship with third acquired as a result of
parties professional and business
relationships and, therefore,
not
disclose any such information
to
third parties without proper
and
specific authority, unless there
is a
legal or professional right or
duty
to disclose, nor use the
information for the personal
advantage of the professional
accountant or third parties
Consulting engagements potential impairments to declined
Code of Ethics – independence or objectivity relating or rejected.
Objectivity to proposed consulting services and A different team of auditors
1130 – Impairment to it was supposed to make disclosure must
Independence or to the engagement client prior to perform the engagement and
Objectivity accepting the engagement this
team should not in future
provide
assurance services relating to
the
merger transactions of the
entity.
Standard 2050 – The assistance given by the internal The chief audit executive
Coordination audit department could have a should
material effect on reducing the share information and
external audit fee, and could mean coordinate
considerable savings for the activities with other internal
undertaking. The degree of saving and
will be directly related to the external providers of
experience and effectiveness of the assurance
internal audit group, and the and consulting services to
materiality of the duties they ensure
perform. proper coverage and minimise
duplication of efforts
Standard 1130.C2 for The internal audit activity has a Internal auditors must refrain
Consulting engagements potential impairment to from doing any tasks that
Code of Ethics – independence or objectivity relating might
Objectivity to proposed consulting services and compromise their future
1130 – Impairment to it was supposed to make disclosure objectivity.
Independence or to the engagement client prior to A different team of auditors
Objectivity accepting the engagement. must
In future, internal auditors will perform the engagement and
suffer self-review threat when they this
review their own work done in the team should not in future
past provide
assurance services relating to
the
developing and implementing
a
new computerised system
Code of Thabiso will lack the required Thabiso must maintain
ethicsCompetency knowledge , skills and competence professional knowledge and
that is necessary for him to perform skill
his tasks. at the level required to ensure
that a client or employer
receives
, competent professional
services
based on current
developments in
practice, legislation and
techniques and act diligently
and
in accordance with applicable
technical and professional
standards.
Code of A member of the Institute of The internal auditor must
ethicsConfidentiality Internal Auditors is not allowed to respect
share confidential information the confidentiality of
acquired through professional information
business relationship with third acquired as a result of
parties professional and business
relationships and, therefore,
not
disclose any such information
to
third parties without proper
and
specific authority, unless there
is a
legal or professional right or
duty
to disclose, nor use the
information for the personal
advantage of the professional
accountant or third parties
