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• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Internal Audit Standards: Everything for Everybody

  Inta Ozolina

  …15 Internal Audit Standards: Everything for Everybody? By Inta Ozolina, Internal auditor (ACCA, CIA) The applicability and scope of IAI… …Standards has been an object of discussion for some time now. One of the issues of these discussions is – whether all companies should apply the Standards… …to the same extent. Namely, whether smaller companies with smaller size internal audit teams should comply with the same scope of Standards and how… …they should do it. We all know that the Standards are extensive, cover most key areas of internal audit profession and work. Even more – the… …Practice Advisories provide further interpretation of the general statements of the Standards. Of course, the mentioned documents are only for guidance… …Standards and use the phrase ‘in compliance with the IAI Standards’ in their reports. To be able to do that, a regular external assessment must be done at… …16 Another area where formal compliance with the Standards may be difficult to obtain is documentation. Many business internal auditors try to… …ensure. The discussion on issues of small audit teams could go on and on. However, the aim of this article is not to diminish the value of Standards… …against Standards is one of the means. However, if small audit teams, irrespective of how professional, qualified and experienced they are, avoid such… …assessment because the requirements are just unrealistic, the Standards really lose their meaning. I think it is a high time to raise this discussion and…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 35: Parmalat (Italy, 2003)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …that its accounting principles were in line with established international accounting standards as well as Italian standards. Yet it appeared not to be…
• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  Contribution by Internal Audit to IT Compliance

  Thomas Lohre

  …61 Contribution by Internal Audit to IT Compliance By Thomas Lohre, MBA29 The constant increase in laws, ordinances, norms, standards… …standards and recommendations and the development of and ad- herence to company guidelines.36 Another aspect of corporate governance is the structuring and… …any new legal standards, but rather, reproduces legal provisions in a legible and abbreviated form and issues recommendations and ___________________… …(cf. Fig. 1): – Legal provisions, i.e. legal standards (legal provisions, as well as legal ordi- nances issued on the basis of these by… …contain IT-related agreements (e.g. service level agree- ments); – Directives outside of the company that relate to IT, e.g. norms, standards, cer-… …or process instructions, operational level agreements (OLAs) or in-house standards, insofar as they contain IT-related specifications. Figure… …Laws • Standards • Contracts • Statutes • Audit standards • Organisational guidelines • Work instructions Examples: • Workflow for purchasing processes… …requirements (target object) Target Objects Actual Objects Anchored in: • Laws • Standards • Contracts • Statutes • Audit standards • Organisational guidelines… …paratory work. For the assessment by internal audit regarding which certifications65 can be meaningful, possible testing standards and related… …Homann (2005), p. 20 et seqq. 65 Networking can occur between the different certifications and testing standards. E.g. exami- nation of data…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 1: McKesson & Robbins (1938)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …public prints, accountants have been startled to find their procedures, their prin- ciples and their professional standards the subject of sensational and… …conducting audit tests. Finally, the auditing profession adopted two standards that are still followed today (see WSJ June 30, 1999): – The physical…
• eBook-Kapitel aus dem Buch Erfolgreiches Risikomanagement mit COSO ERM

  Grundlagen und Nutzen des Risikomanagements

  Christian Brünger

  …International Organization for Standardization) den ISO/IEC Guide 73 Risk management – Vocabulary – Guidelines for use in standards. Diese Publikation stellt… …einerseits auf regulatorische Vorgaben ausgerichtet sein, andererseits aber auch die Einhaltung von selbstgesteckten Standards des Unternehmens sicherstellen…
• eBook-Kapitel aus dem Buch Global Management Challenges for Internal Auditors

  International Professional Practices Framework – Overview of the current guidance of the Institute of Internal Auditors

  T. Flemming Ruud, Philipp Friebe, Daniela Schmitz, Shqiponja Isufi

  …important changes to the Standards are introduced and finally, the conclusion evaluates the changed framework and gives an outlook for the future… …. Non-members have access to the Definition of Internal Auditing, the Code of Ethics, the Standards and the Position Papers on this homepage. International… …Professional Practices Framework 19 2.1 Mandatory Elements As figure 1 shows, the Definition of Internal Auditing, the Code of Ethics and the Standards… …with in order to follow the principles. Apart from a change to the wording, the Code of Ethics was also adopted unchanged. The Standards are… …types of Standards are used; Attribute Standards, Performance Stan- dards and Implementation Standards (cf. Figure 3). The Attribute Standards outline… …the characteristics of individuals and organizations which perform Internal Audit activities. The Performance Standards specify the purpose and… …Standards and the Performance Standards apply to all Internal Audit services. They are supplemented by the Im- plementation Standards, which contain specific… …A, e.g. 2120.A2) or Consulting Services (identified by a C, e.g. 2120.C3). The Standards also include a Glossary which defines the terms and… …Standards by specifying approaches, methods and best practice. The guidance refers to global, national and sector- specific aspects, to specific audit… …Important Changes to the Standards The Standards shown above represent the core of the IPPF. In the revision of the framework the Standards were updated…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  A Practice Aid for Company Executives: The Ethics Barometer

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …right “tone at the top”. A.3 I believe that the CEO and the other senior executives are fully committed to upholding the company’s standards of… …. A.12 It is easy for me to comply with the company’s standards of conduct because there is a strong level of commitment from top management and… …violation of the company’s standards of conduct to local management, I believe my report would be handled confidentially and I would be protected from… …retaliation. B.11 If I reported a violation of the company’s standards of conduct, I believe appropriate action would be taken and those involved would be… …disciplined fairly regardless of their position. B.12 If I reported a violation of the company’s standards of conduct, I believe I would be doing the… …the company’s standards of conduct. Only people with integrity are considered for promotion. B.16 Performance evaluation criteria at the… …standards of conduct is provided to me when I need it and is clear and easy for me to understand. C.4 The training is effective in guiding my decisions… …conducts a strategic analysis on non- compliance risks. C.19 The company has made sufficiently clear to me the incentives to uphold the standards of… …seen any manager or employee violating the company’s standards of conduct. D.2 If discovered, the violations I observed would not result in… …standards of con- duct, I think it would be because they are trying to help the organization achieve its goals and meet its business targets. D.5 If a…

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• eBook-Kapitel aus dem Buch Leitfaden zur Prüfung von Projekten

  Einleitung

  DIIR – Deutsches Institut für Interne Revision e. V., Robert Düsterwald, Susanne Fries-Palm, Michael Peis, u.a.

  …„Metho- den und Standards für Portfolios, Programme und Projekte“ sind nicht Be- standteil dieses Leitfadens. Der Leitfaden richtet sich insbesondere an…
• eBook-Kapitel aus dem Buch Accounting Fraud

  Case 29: Infomatec (Germany, 2000)

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …causes damage to another person in violation of “accepted moral standards” is liable for the damage. The BGH emphasized that publishing materially… …, therefore, accepted moral standards for purposes of the Civil Code. The BGH ordered Harlos and Haefele to repurchase the Infomatec shares from the plaintiff… …misleading information to the market. The judgment was viewed as part of a general effort to adjust German secu- rities laws to international standards…

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• eBook-Kapitel aus dem Buch Accounting Fraud

  Chapter 4: Conclusion and Outlook

  Prof. Dr. Klaus Henselmann, Dr. Stefan Hofmann

  …strongly with our norms and values. The fraudulent accounting practices clearly violated expected standards of behaviour. The sight of top executives being… …probability, the malfeasance is detected. Other factors contributing to accounting fraud may include unrealistic performance standards that fail to take into… …conspiracy. Often, the one or two perpetrators don’t even realize that they are stepping over the line and might be violating accounting standards. 4. It… …and hiring and promotion standards. – A comprehensive fraud risk assessment helps senior management to under- stand their fraud risks, identify gaps…

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