Independence and objectivity : a framework for internal auditors

The IIA`s International Standards for the Professional Practice of Internal Auditing mandate that internal auditors maintain a certain level of independence from the work they audit. The IIA Research Foundation`s Independence and Objectivity: A Framework for Internal Auditors is useful to the profession as a guide to to establishing professional standards, and to practitioners to help manage the internal audit unit and individual objectivity. Today`s internal auditors are much more than financial analysts. They provide assurance and consulting activities. They add value by helping improve organizational operations and meet objectives. And as their responsibilities grow, so does the demand for greater accountability, independence, and objectivity. This report explains the complex and critical issues associated with auditor objectivity. Included in the research is a framework that audit practitioners can follow as they confront the rising challenges of the changing workplace and become more proactive, providing a broadened variety of services and otherwise changing the internal audit model. This in-depth research report illustrates why: World-class audit shops are broadening their focus to provide assurance and consulting services. Internal and external auditors must continue to work together with the audit committee to ensure successful audits. Internal auditor objectivity is critical to a balanced approach. The modern auditor is increasingly dependent on management.