The Office of Internal Audit has adopted the The Institute of Internal Auditors (IIA) Code of Ethics.
The IIA Code of Ethics states the principles and expectations governing the behavior of individuals and organizations in the conduct of internal auditing. It describes the minimum requirements for conduct, and behavioral expectations rather than specific activities.
Introduction to the Code of Ethics
The purpose of The Institute’s Code of Ethics is to promote an ethical culture in the profession of internal auditing.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
A code of ethics is necessary and appropriate for the profession of internal auditing, founded as it is on the trust placed in its objective assurance about governance, risk management, and control.
The Institute’s Code of Ethics extends beyond the Definition of Internal Auditing to include two essential components:
- Principles that are relevant to the profession and practice of internal auditing.
- Rules of Conduct that describe behavior norms expected of internal auditors. These rules are an aid to interpreting the Principles into practical applications and are intended to guide the ethical conduct of internal auditors.
The Code of Ethics together with The Institute’s Professional Practices Framework and other relevant Institute pronouncements provide guidance to internal auditors serving others. “Internal auditors” refers to Institute members, recipients of or candidates for IIA professional certifications, and those who perform internal audit services within the Definition of Internal Auditing.
Applicability and Enforcement of the Code of Ethics
This Code of Ethics applies to both entities and individuals that perform internal audit services.