The document discusses the importance of values and beliefs for internal auditors. It states that values and beliefs drive internal auditors and lead them to achieve objectives with satisfaction. Some key values and beliefs mentioned are independence, objectivity, adherence to ethical norms, and continual professional development. The document emphasizes that internal auditors should be proud of their role and view themselves as true professionals.

1. Values and beliefs – an Internal Auditor to imbibe

15. Thank You

19. Head of Corporate Finance Manager (Internal Audit) Sr. Manager (Accounts) Sr.Manaer (Taxation) Etc.,

20. Head of Corporate Services Corp.Admin. Company Secretary Head of Finance Etc., Manager (Internal Audit) Manager (Secretarial) Manager (Legal)

21. Head of Corporate Finance Company Secretary Sr.Manager (Taxation) Sr.Manager (Finance) Manager (Internal Audit)

22. CEO / MD Head of Audit Head of Corporate Finance Head of Corp.HR Audit Committee Chairman

24. Values & Beliefs (in Internal Audit) Executive may lack knowledge of operations and internal controls or may not have a motivation for internal audit to be effective Good for audit independence if the executive has no or few direct operational responsibilities subject to significant internal audit scrutiny Other Senior Executive Internal audit is no longer seen as supporting and partnering with management. Chief Audit Executive may lose status and acceptance as a member of the management team Good for audit independence Chair of Audit committee Disadvantaves Advantages Reporting to

28. ISO 9001 : 2000 How “Quality Management Principles” are getting addressed in our Division

33. Quality Management Principle 5 “ System Approach to Management”: Identifying, understanding and managing a system of interrelated processes for a given objective contributes to the effectiveness and efficiency of the organisation. Our Actions: Each auditing process viz. Technical Audit, Systems Audit& General Auditing well integrated as a total system when delivering the final products to the internal customers for achieving effectiveness and efficiency. Audit Planning, Execution, Reporting & Knowledge Management interrelated in the Process SW WEBMARS’.Trying to bring Risk Asst. as a process which is a part of Audit System

38. IIA Home page

42. Internal Audit redefined (by the Institute of Internal Auditors, Inc, USA – the International Body promoting the profession of Internal Auditing) “ Internal Auditing is an Independent and Objective Assurance and Consulting Activity that is Guided by a Philosophy of Adding Value to Improve the Operations of the Organisation. It Assists an Organisation in Accomplishing the Objectives by Bringing a Systematic and Disciplined Approach to Evaluate and Improve the Effectiveness of the Organisation’s Risk Management, Control, and Governing Processes.”

44. Audit Functional Chart

45. Individual Attributes Required of Internal Auditors (to be an effective Internal Auditor)

46. Individual Attributes Required of Internal Auditors

47. Individual Attributes Required of Internal Auditors

48. Individual Attributes Required of Internal Auditors

49. 14 ways to measure performance

50. 14 ways to measure performance