Question

1. Discuss whether you believe that the Attribute Standard "Proficiency" is easy to comply with by practicing internal auditors? And why or why not?

2. What are the top 3 reasons that the internal audit function should follow the IPPF standards?

Answer 1

Answer(1): Attribute Standard "Proficiency" is easy to comply with by practicing internal auditors because The International standards for the professional practice of Internal Auditing Standards are very important in meeting the responsibilities of internal auditors and the internal audit activity. Internal auditors have the knowledge and competencies to perform their individual responsibilities with due care and proficiency, they are trained for that.

The structure of standards has two parts; Attribute and Performance standards. The performance standards describe the nature of internal auditing and provide quality criteria against which the performance of these services can be measured. The purpose authority and responsibility of the internal audit activity should be defined in an internal audit charter. The chief audit officer must periodically review the internal audit charter and present it to the senior management and the board for approval.

All internal auditors are accountable for conforming with the standards related to individual objectivity, proficiency and due professional care.