Question

What Are The Basic Principles Of An Internal Audit Controlsystem?

Answer 1

Basic Principles of Internal Audit : -

1.0 Introduction and Scope

2.0 Objectives

3.0 Basic Principles

3.1 Independence

3.2 Integrity and Objectivity

3.3 Due Professional Care

3.4 Confidentiality

3.5 Skills and Competence

3.6 Risk Based Audit

3.7 System and Process Focus

3.8 Participation in Decision Making

3.9 Sensitive to Multiple Stakeholder Interests

3.10 Quality and Continuous Improvement

4.0 Effective Date