Technet

MEMORANDUM Date: June 20, 2012 To: Chief Executive Officer From: offense President, Internal Audit RE: Independence and Objectivity TechNet, Inc. operates its profession in a highly private-enterprise(a) environment both externally and immanently. It is crucial and essential that on that point is a cook understanding about our independence and objectivity when engaging on our native analyze operations. This clear understanding of our independence and objectivity can reassure any concerns elevated by person divisions in a company that is internally competitive. Our internal inspect department is in full conformism with the International Standards for the original Practice of Internal Accounting (IIA). In compliance with the evaluate Standards 1100 1130 listed in the IIA, internal canvass moldiness be large-minded lance and the internal auditors must be object lens. The IIA delineate independence as the freedom from conditions that threaten objectivit y or appear to threaten objectivity. Audit independence is fundamentally a state of mind to always stay neutral and do not refer to physically being sovereign from the organization they work for.

The IIA also defines objectivity as an cobwebby mental attitude and avoidance of conflicts of interest, which allows internal auditors to perform engagements in such a manner that they have an honest drift in their work product and that no significant theatrical role compromises are made. Independence and objectivity is achieved through organizational status of the internal audit persona, the degree of objectivity adjudge by internal auditors, and authority and responsibility given to internal auditors. ORGANIZATIONAL STA! TUS Organizational status of the internal audit function indicates that the Chief Audit Executive (CAE) and internal audit aggroup must periodically report functionally to the mount up or audit committee and administratively to the CEO. In range to go over that the internal audit team that consists of members who belongs to a...If you urgency to get a full essay, order it on our website: OrderEssay.net

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