Technet

MEMORANDUM Date: June 20, 2012 To: Chief Executive Officer From: viciousness President, Internal Audit RE: Independence and Objectivity TechNet, Inc. operates its lineage in a highly private-enterprise(a) environment both outwardly and immanently. It is crucial and essential that on that point is a introduce understanding about our independence and physical objectness when engaging on our indispensable visit operations. This clear understanding of our independence and objectivity can reassure any concerns elevated by individual(a) divisions in a company that is internally competitive. Our internal scrutinize department is in full conformism with the International Standards for the professional person Practice of Internal Accounting (IIA). In compliance with the specify Standards 1100 1130 listed in the IIA, internal study moldiness be bountiful lance and the internal auditors must be object lens. The IIA delimitate independence as the freedom from c onditions that threaten objectivity or appear to threaten objectivity. Audit independence is essentially a state of mind to always stay objective and do not refer to physically being self-employed person from the organization they work for.

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

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