CBI News 05/28/2018

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International Auditing Standards

 

  

 May 28, 2018

 

International Standards for the Professional Practice of Internal Auditing ... Click here to download

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The Central Bank of Iraq organizes a course on letters of guarantee

 

 May 28, 2018

The Central Bank of Iraq Branch of Basra, a training course for letters of guarantee for the auditors and auditors of the Integrity Commission in the province of Basra on Monday, 28/5/2018, and on the sidelines of the session between the Director General of Basra Branch, Dr. Qassim Rahif on the importance of letters of guarantee for banking and financial sector. Letters in addition to the instructions issued by the Central Bank of Iraq in this regard.

https://cbi.iq/news/view/708

[haymon]

I like the word International standards.  

Sorry, thats two words. 😀

[Butifldrm]

 

International standards for the professional Practice of internal auditing
 (standards)
 These standards were translated into Arabic by a working group of the Board of Governors of the Association of Internal auditors in Lebanon under the supervision of the official Naji Fayad

 

Introduction to Internal Auditing standards
Introduction to Standards
Internal auditing is practised in different and diverse legal and cultural settings, and the institutions are different in terms of both objectives and size
Complexity and structure, and internal auditing is exercised by persons within or outside institutions. While those
The implications may affect the practice of internal auditing in each environment, adherence to international standards of professional auditing practice
In order for internal auditors and internal audit activity to be able to fulfil their responsibilities
A fundamental
Internal (standards) every thing.
The purpose of the standards is to:
1. It is the obligation of the international professional members to exercise internal auditing.
2. Provide a disease reference frame and promote a wide range of value-added internal audit services.
3. Establish the projector to evaluate the performance of the internal audit.
4. Promote the improvement of the operations and business of the institution.
The criteria are a set of principles-based requirements, consisting of:
• Statements explaining the basic requirements for the professional practice of internal auditing and for evaluating the effectiveness of the disease, which are the requirements
Internationally applicable at both the institutional and the individual levels.
• Interpretations of the terms and concepts contained in the standards
The norms and principles of the profession of the professions contain all the international professional services for the exercise of auditing
To comply with all the elements of the internal professional career, and to build on it, the observance of the principles of occupational and other standards is
For internal audit practice.
The criteria use phrases as defined in the list of surfaces. It is necessary to adopt the specific interpretations in the
The applications to understand and apply the standards properly. Specifically, the criteria use the word "must" when mentioning the requirements of a business
Implementation is a constraint or condition, while it uses the word "should" when stating requirements that are expected to be fulfilled unless circumstances warrant the necessity
To be judged on the basis of a sound professional judgement or opinion.
The criteria are composed of two sections: the criteria for characteristics and the criteria for the disease. Property criteria Specify the properties that must be
Available in institutions and individuals who perform internal auditing. The standards of the disease address the nature of the internal audit and define the criteria
Quality to measure the performance of the services provided. The criteria for characteristics and standards of the disease apply to all internal audit services.

 

The implementation criteria elaborate on the criteria for characteristics and standards of the during to provide binding guidance on the application of standards
Characteristics and criteria for the provision of Assurance Services (v) and services (a).
E by the internal auditor to present
Laldal
Confirmation services include evaluation of opinions or conclusions on an entity, work or objective
function, process, system, or other subjects. The nature and scope of the task of confirmation is determined by the internal auditor and as
For a third party in the Confirmation Services: (1) The person or group that is in the immediate capacity of the entity, the operation or
With the function, path, system, or other subject (process owner), (2) the person or group that is doing this
Evaluation (i.e. internal auditor), (3) the person or group using this assessment (i.e. the user).
The services are extension services and are generally implemented by us on a specific request from the task agent. The Nature and extent
Tasks to work with the task client. These services generally include two parties: (1) person or group
that advise (i.e. the internal auditor), and (2) the person or group seeking and receiving the advice (customer). When implementing
Services the internal auditor should maintain objectivity and assume any administrative responsibility.
Lynn Solo is also an internal audit activity. All internal auditors are responsible for withdrawing the standards on pensionable checkers
Commitment to standards relating to individual objectivity, skills, professional care alalzmah and standards relevant to the discharge of their responsibilities
Professional. The executive heads of audit are also responsible for the full internal audit activity of the standards. If the commitment to certain parts of the standards is due to a law or system, internal auditors or internal audit activity is required
Compliance with other sanctions against standards with the way of measures.
If the criteria are used in conjunction with other official requirements, a pensionable check may mention the use of these
Requests in his notices. Then, if the internal audit activity indicates compliance with "standards" and there was a choice between
 "Standards" and other requirements internal auditors and internal audit activity must comply with the criteria  like they going.
Commitment to the other, if you're more nervous.
The review and development of standards is an ongoing process. The International Internal Audit Standards Board is engaged in extensive consultations
and discussions prior to the promulgation of the standards. This includes general observations in all parts of the world regarding the draft presented.
Distributed to the associations of internal auditors on
Publication of drafts on the website of the Association of Internal Auditors as
Wet
The level of each country.
Aalkatrahat and comments on the criteria can be sent to:
The Institute of Internal auditors
Standards and Guidance
1035 Greenwood Blvd, Suite 401
Lake Mary, FL 32746 USA
E-mail: guidance@theiia.org
 

 

Properties criteria
1000-purpose, authority, responsibility
Internal audit activity formally, a purpose, authority and responsibility must be defined within the internal audit Charter, in line with the audit message
internal and with the international professional components of the practice of internal auditing (initially for professional schools to knock
The inside of me, the principles of the profession, the standards, and the definition of internal auditing. The executive head of internal audit must conduct a periodic review
and presentation of the internal audit charter to the upper circuit and the circuit board for approval.
Interpretation:
The Internal audit Charter is an official document defining the purpose, authority and responsibility of the internal audit activity. The Internal Audit charter also specifies
The functional location of the internal audit activity within the organization, including the nature of the pending functional dependency that connects the CEO to audit
And the circuit board, which determines the right of access and accessibility to the body, access to staff and related material gain
Audit tasks, and specifies the scope of work for internal audit activities. The task of final approval of the internal audit charter rests with the Council
The circuit.
In the internal audit Charter. If
1000. T. 1. The nature of the affirmative services provided to the enterprise must be clearly defined
The internal audit charter must also be. The confirmation services are offered to destinations outside the organization to determine their nature in
1000. A. 1. The nature of the services in the internal audit charter must be determined.
1010. The resolution of the guidelines is pensionable.
The basic principles of the Professional Practice of internal auditing, the principles of the professions of professionalism, standards and the definition of auditing must be established in the most fundamental nature
Internal Audit Charter. The executive head of internal audit should also discuss the letter pensionable me and the non-critical elements
From the international professional flag to practice internal auditing with the public circuit, and the circuit board.
1100-Projector and objectivity
Internal audit activity must be a subject, and internal auditors must perform their work objectively.
Interpretation:
The requirement is freedom from the conditions and circumstances that threaten the ability of the internal audit activity or the CEO to scrutinize the execution of audit responsibilities
In an unbiased manner. In order to achieve the Alalzmah degree of effectiveness of the responsibilities of the internal audit activity, the President
The internal audit executive has direct and unrestricted access to the upper circuit and circuit board, and this can be achieved from during lines
The double dependency of internal auditing with the circuit and circuit board. The threats to the threat must be managed at the internal auditor level.
Individually, at the functional and organizational levels.

 

The level of audit missions
Enables internal auditors to perform internal audit functions in such a way that they believe in safety or objectivity is an unbiased mind position
The results of their actions and do not make sacrifices at the expense of the quality of the work they perform. Objectivity requires the non-subordination of internal auditors ' judgements
That threaten objectivity at the level of the internal auditor individually and at a level on issues of patent scrutiny. The Moore must be managed
Audit missions, career and organizational levels.
1110-Regulatory organization
An organizational level in the Organization ensures that the internal audit activity performs its responsibilities on the executive head of internal audit
Fuller face. The executive head of internal audit must also confirm to the board the organizational review of the internal audit activity,
On an annual basis.
Interpretation:
The organizational regulatory effect is actually achieved when the executive head of audit
Functionally subordinate to the circuit board. Examples of that dependency
Of the circuit board, the circuit board shall:
-Ratification of the audit Charter.
-Validation of the internal audit plan based on risk assessment.
-Approve the budget of the internal audit and its resource plan.
-Receipt of communications and reports from the executive head of internal audit on the performance of the internal audit activity in relation to its plan
and other matters.
-Approval of decisions on the appointment and dismissal of the executive head of internal audit.
-Approving the salary and emoluments of the chief Executive officer for Internal Audit.
-Request appropriate information from the circuit and the executive head of internal audit to determine whether there are any limitations on resources
Internal audit activity or the scope of its work.
1110. T. 1. The internal audit activity must be safe from any interference in determining the scope of the audit, completing its work and exaggerating the results. Have
The executive head of internal audit should authorize any such interference by the circuit board and discuss its implications.
1111. Direct interaction with the Council
The executive head of internal audit must continue and interact directly with the circuit board.
1112. Role of the executive head of internal audit outside the internal audit framework
When the executive head of Internal audit has any roles or the in-charge is located outside the Internal Audit window, or when he is expected to have a
These are the Dudais, the Alalzmah must be taken to limit the magnitude of their negative impact on the objective and objectivity.
Interpretation:
The executive head of internal audit may be required to exercise roles or responsibilities that fall outside the internal audit framework, as a responsibility
Risk management. These decisions or responsibilities may adversely affect the involvement of the latter, or the activities in fact or the apparent

 

Organizational of the internal audit activity or the individual objectivity of the internal auditor. These are the proce, usually taken.
By the circuit board, to deal with possible negative effects, and those proce could include periodic assessment of the dependencies and responsibilities
Introduce alternative procedures for obtaining assurances regarding the non-liability of the authorities.
1120-Individual Objectivity
Internal auditors must be impartial and unbiased and avoid any conflict of interest.
Interpretation:
Conflict of interest is a particular situation where the internal auditor — which is supposed to be trusted — has professional or personal interests
Rival. These competing interests can make it difficult for the internal auditor to perform his duties in a fair and unbiased manner. and could
exists even if it does not entail any improper or improper conduct. Conflict of interest can also result in conflicts of interest
It has an unexpected appearance that would weaken the confidence in internal auditing, internal audit activity and the internal auditing profession as a whole.
Conflict of interest can weaken the ability of an individual to objectively perform his or her duties and responsibilities.
1130-Constraints on the night or objectivity
When there is an impediment to the event or objectivity, both in fact and in appearance, the details should be provided to the appropriate parties.
The nature of this request depends on the nature of the impediments or objectivity.
Interpretation:
Individual organizational or substantive impediments may include, for example, a conflict of personal interest,
Restrictions on the scope of the audit work, restrictions on access to, and access to, the staff, personnel and
D on resources such as finance is an example of physical arrival, and Qaw.
The identification of the appropriate parties to which the details of any impediments impeding the determination or objectivity shall be based on what is expected of
The internal audit activity and the responsibilities of the chief executive to scrutinize the upper circuit and circuit board provided for in the audit charter
Also on the nature of the constraints themselves. of procedure, and the identification of such appropriate parties depends
1130. T. 1. Internal auditors must refrain from evaluating the operations previously supervised by them. It is expected that they will be affected
An activity he was responsible for during the past year.
Objectivity of the internal auditor if he provided the services of a transcendent assertion
With functions under the supervision of the Chief Audit officer must be placed under the supervision of a Party of
1130. T. 2. Affirmative tasks concerning
Outside the internal audit activity.
1130. T. 3. Internal audit can provide assurance services in the areas in which it has previously provided advisory services, provided that
These services did not adversely affect the requirement that individual objectivity be dealt with in an appropriate manner when allocating objectivity and
The Alalzmah resources for the new task.
1130. A. 1. Internal auditors can provide advisory services related to operations previously supervised by them.
T on the resignation or objectivity of internal auditors during proposed consultancy missions, it must
Found what would affect
1130. A. 2-if
They have to do this to the client who ordered this task before accepting it.

 

1200-skill and professional care Alalzmah
Internal audit tasks must be accomplished with skill and with due diligence.
1210-Skill
Internal auditors must possess the knowledge, skills and other competencies alalzmah to carry out the individual responsibilities assigned to them.
The internal audit activity as a whole must possess or acquire the other knowledge, skills and competencies Alalzmah to carry out the responsibilities
entrusted to him.
Interpretation:
Tov is required to carry out their professional responsibilities. A comprehensive term that refers to the knowledge, skills and other competencies of internal auditors
Effectively. The skill includes taking into account current activities, trends and emerging new topics, enabling internal auditors to provide advice
The recommendations are valuable. Internal auditors are invited to steadiness their skills from during get the appropriate professional certifications walmo'halt like
Certified Internal auditor certificate and similar other certificates provided by the Association of Internal Auditors and other appropriate professional institutions.
1210. T. 1. The executive head of audit must obtain advice and assistance from qualified persons if the internal auditors
They lack the knowledge, expertise and various skills alalzmah to perform all or part of the audit task.
1210.2. Internal auditors must have adequate knowledge to enable them to assess the risks of exposure and how the Enterprise manages
Those risks. But they are not expected to have the same experience as a person whose main responsibility is to discover the investigation and investigate
int its.
1210. C. Internal auditors must have adequate knowledge of information technology risks and control controls,
They also have knowledge of the technology-based auditing techniques available to complete their work. But it's not expected to be
All internal auditors have the same experience as the internal auditor, whose responsibility is to validate the information system.
1210. A. 1. If internal auditors possess the knowledge, skills or competencies required to perform a particular advisory function or
Part of it, in which case the chief executive of the audit must either accept that task or seek to obtain the advice
and help qualified people.
1220-Occupational Care Alalzmah
Internal auditors must make the level of care and skill expected of any internal auditor with a reasonable level of exchange
and the managed. However, the alalzmah of professional care means the inviolability of the wrong.
1220.1. Internal auditors must take Alalzmah professional care in their work by taking Baalatbar following elements:
• Extent of work to achieve mission objectives.
• The degree of complexity or materiality or the importance of the matters for which the confirmation procedure is applied.
• Adequacy and effectiveness of governance, risk management and control processes.
• Potential for significant errors, fraud or non-compliance.
The emphasis works against potential benefits.
• Tekle
1220. T. 2. In the context of professional care Alalzmah internal auditors must take the Aalatbar to use audit based on
Technology and other data analysis techniques.
To the goals, processes, or resources. This and that
1220. T. 3. Internal auditors must be alert to the significant risks that may affect
Confirmation procedures are specified.
Even if you're in professional care, Alalzmah guarantee that all risks are
1220. A. 1. Internal auditors must make Alalzmah professional care during the performance of consultancy missions during take into account:

 

• Needs and expectations of the business, including the nature, timing and manner of communicating the results of the mission.
• The degree of complexity and extent of work necessary to achieve the objectives of the Mission.
• The cost of the mission compared to the potential benefits.
1230. Continuing Professional Development
Internal auditors must enhance their knowledge, skills and other competencies through continuous professional development.
1300-Quality assurance and Improvement Program
The chief Audit officer must develop and maintain a program to confirm and improve quality to cover all aspects of internal audit activity.
Interpretation:
Confirm and improve quality to be able to assess the compatibility of internal audit activity with the standards, and assess whether internal auditors design a program
Also assess the efficiency and effectiveness of internal audit activity and identify opportunities for improvement. They apply the principles of professional-practice. This programme includes
The executive head of internal audit should encourage the process by the circuit board in the quality Assurance and improvement Program.
1310. Quality assurance and improvement Programme requirements
The Quality assurance and improvement Program must contain both internal and external evaluations.
1311. Internal evaluations
Internal evaluations should include the following:
• Continuous monitoring of internal audit activity.
• Periodic reviews carried out in a self-assessment manner or by other persons within the organization who have knowledge
Adequate internal audit practices.
Interpretation:
Part of the worker's work, review and daily measurement of the internal audit activity. This ongoing surveillance is integrated with ongoing surveillance
Within the usual routine policies and practices used to manage the internal audit activity, using processes, data and information
Which is considered to be the obligation to assess compliance with the principles of professional practices and standards.
Periodic reviews are evaluation work undertaken to assess adherence to the principles of professional-practice and standards.
Adequate knowledge of internal audit practices requires that all elements of the "international Professional Practice of internal auditing" are understood.

 

External evaluations should be conducted once every five years by a reviewer or a review team your you and your organization. For out
The executive head of auditing with the circuit board should discuss the following points:
• The format and frequency of external evaluations.
• Resident or external assessment team, including any ahatmaalt for a conflict of interest.
Interpretation:
External evaluations can be carried out through a full external evaluation or through a self-assessment accompanied by independent external confirmation. The external evaluator must
To reach a decision on adherence to the principles of professionalism and standards, and the external evaluation could also contain operational comments
or strategy.
A qualified evaluator or evaluation team must demonstrate its ability and competence in two areas: professional practice, internal audit workers, and operations
External evaluation. That efficiency can be demonstrated by the during enjoyment of an adequate mix of practical experience and theoretical knowledge. This with note that experience
Acquired in institutions of similar size and complexity to the organization subject to evaluation and which belong to the same sector and industry and which have the same
A link. If there is an evaluation team, the technical expertise is more important and valuable than the experience gained in the
All members of the panel are required to have the required competencies, but the team as a whole must have those competencies. The chief executive officer is used to audit
Professional wisdom to determine whether a resident or evaluation team has adequate competence to carry out the assessment process.
A resident's assessment or evaluation team means circles there is any conflict of interest, whether it is a real conflict or a prima facie conflict, and that the
The evaluator or the evaluation team shall be part of – or under the control of – the institution to which the internal audit activity belongs. The executive head should
Internal audit should encourage the monitoring and supervision of the circuit board to the outside to minimize any conflicts of interest, whether ostensibly or
of inclusion.
1320. Reports on the quality assurance and improvement programme
The executive head of internal audit must communicate the results of the quality assurance and improvement Program to the top circuit and circuit board.
Aalfsahat should include the following:
• Scope and frequency of internal and external evaluations.
• The resident's party, or the evaluation team, ahatmaalt any conflict of interest.
• Resident findings.
• Corrective Proce plans.
Interpretation:
The format, content and frequency of reporting to the upper circuit and the circuit board are determined by the results of the quality assurance and improvement program from during discussions with the top circuit
The circuit board, taking into account the responsibilities of the internal audit activity and the executive head of audit set out in the internal audit Charter. and consistency of adherence
The principles of professionalism and standards, taking into account the results of external evaluations and periodic internal assessments once they are completed, while the results are reported
Constant surveillance once a year. It includes the evaluator or the evaluation team on the degree of compliance referred to.

 

1321. Use of the words "compliant with international standards for the professional Practice of internal auditing"
The fact that the internal audit activity complies with international standards for the professional practice of internal auditing is appropriate only if you are invited
The results of the quality assurance and improvement Program.
Interpretation:
The internal audit activity
Adhering to the principles of professionalism and standards when achieving the goals set out in the standards and principles
The profession. The results of the quality assurance and improvement programme include the results of both internal and external evaluations. The findings of the internal evaluation apply to
All internal audit activities, and the results of the external evaluation apply to existing internal audit activities in place for a period of less than five
Years.
1322-the case of non-compliance
When non-compliance with the principles of professional and standard-setting influences the overall scope of an internal audit activity or its operations,
The executive head of internal audit to disclose the non-compliance and its impact on the upper circuit and the circuit board.
Standards of disease
2000-Management of internal audit activity
The chief Audit officer must effectively manage the internal audit activity to ensure that it adds value to the organization.
Interpretation:
The internal audit activity has been effectively managed when:
• The internal audit activity has achieved its objectives and responsibilities contained in the internal audit Charter.
• The internal audit activity complies with the standards.
• Members of the internal audit activity shall adhere to the principles of professional and standard-setting.
• The internal audit activity takes baalatbar of the trends and emerging issues that can affect the organization.
The internal audit activity adds value to the enterprise and the concerned parties when it takes in Aalatbar aalstratigiat, psoriasis and risks, and strives to provide
Ways to improve governance, risk management and control processes and provide relevant assurance in an objective manner.
2010-Planning
The executive head of audit must develop a risk-based plan to prioritize internal audit activity, in line with the objectives
The institution.
Interpretation:
In order to develop a risk-based plan, the executive head of Internal audit consults with the upper circuit and the circuit board and acquires an understanding
Enterprise, key work objectives, associated risks, and risk management. The chief executive officer must scrutinize 

 

Review and amend the plan by AALKTDAA to respond to changes in business, risks, processes, programs, enterprise systems and controls
Dreaming.
2010. T. 1. The task plan for internal audit activity must be based on a documented risk assessment, once a year. And we must
In this process, the opinion of the upper circuit and the circuit board is taken.
2010. T. 2. The executive head of audit shall determine and take into account the expectations of the upper circuit, the circuit board and the Aalatbar
Other concerned when internal audit presents its opinions and various conclusions.
2010. A. 1. When accepting a consultancy function, the executive head of internal audit should take aalatbar possibilities to improve risk management
Add value and improve enterprise processes. The approved functions must be included in the audit plan.
2020-reporting and approval
The executive head of Internal audit must report the internal audit activity plans and the resources required, including any interim changes
Important, to the upper circuit and the circuit board for Review and approval. The head of the internal audit must also report on the impact
Limited resources.
2030. Resource Management
Effective success Plan recruitment the Chief Audit Officer must ensure that the internal audit resources are appropriate and adequate and are employed
Audit supported.
Interpretation:
The word "appropriate" in this standard means the combination of knowledge, skills and other competencies necessary for the success of the audit plan. The word
Effective when used in an optimum way to implement the plan
 "sufficient " the amount of resources necessary for the success of the audit plan. Resources have been recruited
Approved.
2040. Policies واالجراءات
The executive head of internal audit should develop policies واالجراءات ensure that the internal audit activity is directed.
Interpretation:
The form and content of واالجراءت policies depend on the size, structure and complexity of the internal audit activity.

 

2050-Coordination and cooperation
The executive head of internal audit should share information and coordinate activities with other external and internal bodies that provide
Confirmation and retention services and to consider the possibility of doing so in order to ensure the coverage and duplication of the work of those entities
Efforts.
Interpretation:
Within the area of activity coordination, the executive head of internal audit can rely on the work of other agencies providing assurance services
and the cigarette. A coherent approach should be developed to serve as a basis for the principle of non-compliance, and in that regard, the executive head of internal audit should
It takes into aalatbar the skill, objectivity and professional care alalzmah which those who provide the services of assurance and professionalism. and should be
Also have a clear understanding of the scope, objectives and results of the work performed by the other providers of assurance and services. And when you
Responsible and accountant for ensuring that the conclusions and procedures reached by others, the executive head of internal audit remains
To which the internal audit activity extended his uncle adequately.
2060-Upper circuit and circuit board
The chief executive officer of the audit must periodically carry out the high circuit and circuit board for the purpose, authority, responsibility and performance of the activity
According to its plan, and that this activity is adhered to by the principles of professional and standard-setting. This adult should include internal auditing
Significant risks and issues related to oversight, including risk of exposure, governance issues and other issues of
Require
Attention of the top circuit or the board.
Interpretation:
Adult content and frequency are determined by the executive head of Internal audit, the upper circuit and the circuit board in a cooperative manner. Content depends
The frequency of the information to be communicated and the urgency of the need to take proce and to take
By the upper circuit or circuit board.
The wemrasalt of the executive head of internal audit to the upper circuit and the circuit board shall include:
• Internal Audit Charter
• Internal audit activity is settled
• Audit plan and progress of work as compared to plan
• Resource Resources
• Results of audit services
• Adherence to the principles of the profession, standards and plans designed to address important compliance issues.
• Responsiveness in the face of risks that may be unacceptable to the enterprise in the opinion of the executive head of internal audit.
These and other adult requirements by the CEO of Internal audit will be referred to as a reference within the criteria.
The external services and organizational responsibility for internal audit
When an external service provider exercises the role of internal audit activity, it must draw the Organization's attention to the fact that it is responsible for
Maintain an effective internal audit activity.
Interpretation:
This responsibility is demonstrated by the during quality assurance and improvement program that evaluates adherence to the principles of professional and standards

 

2100. Nature of work
The internal audit activity should assess governance, risk management and control processes and improve them, during follow the method
Structured and risk-based methodology. The importance and credibility of internal audit is enhanced when auditors enjoy the reliability and when their assessments are given
New Visions and take future revenge in Aalatbar.
2110. Governance
The internal audit activity must evaluate the organization's governance processes and propose appropriate recommendations to improve the governance of the Organization
Ensure that the following objectives are achieved:
• Making strategic and operational decisions
• Risk management and control processes.
• Promotion of appropriate institutions and values in the institution.
• Ensure effective management of disease and accountability at the enterprise level as a whole.
• Exaggerate information about risk and control to the appropriate institutions in the organization.
• Coordination and exchange of information between the circuit board, external and internal auditors and providers of assurance services.
2110.1. The internal audit activity must assess the level of design, implementation and effectiveness of the objectives, programmes and activities of the foundation for values
.
2110.2. The internal audit activity must assess whether the information technology governance of the enterprise is supporting the strategies
And objectives of the Foundation.
2120. Risk Management
The internal audit activity must assess the effectiveness of risk management processes and contribute to their improvement.
Interpretation:
Determine whether risk management operations are effective is a provision resulting from an internal auditor's assessment that:
• The objectives of the Foundation are supportive and consistent with the mission of the Foundation.
identified and evaluated.
• Important Risks
• The appropriate risk appetite is chosen so that the level of risk is consistent with the enterprise's ability to risk.
• Risk information is captured and collected in a timely manner across the Organization, to enable staff, services and the board
The circuit from the discharge of their responsibilities.
To support this assessment, the internal audit activity can collect information during multiple audit assignments. When viewed, the results of these tasks provide
Together, they are for enterprise risk management processes and effectiveness.
Risk management processes are monitored from the during of ongoing, or from during the implementation of separate evaluations, or both.

 

2120.1. The internal audit activity must assess enterprise risks related to governance, operational processes and information systems
Considering:
• Aalstratiget objectives for the foundation.
• Reliability and credibility of financial statements and operational information.
• Effective and efficient operations and programmes.
• Protection of the arrival.
• Laws, regulations, policies, واالجراءات and contracts.
2120. The internal audit activity must assess the likelihood of fraud and how the enterprise manages the risks of exposure.
2120-A. 1. During the missions, internal auditors must address the risks that are pending with the objectives of these missions, as
They need to be mindful of the fact that there are other important risks.
2120. Internal auditors must use their knowledge of the risks gained from during completion of the missions
When evaluating enterprise risk management processes.
2120. When internal auditors help to develop or improve risk management processes, they must refrain from
.
About any administrative responsibility of during actually managing risks
2130. Oversight
The internal audit activity should help the institution to maintain effective controls during assess its effectiveness and efficiency, and pay for its improvement
Continuous.
2130.1. The internal audit activity must assess the adequacy and effectiveness of controls in dealing with enterprise risks related
On governance, operational processes and information systems in view of:
• AALSTRATIGIH objectives for the foundation.
• Reliability and credibility of financial statements and operational information.
• Effective and efficient operations and programmes.
• Protection of the arrival.
• Laws, regulations, policies, واالجراءات and contracts.
2130.1. Internal auditors must use their knowledge of the controls acquired during their completion of the missions
When evaluating the organization's controls.

 

 

2200-Internal Audit task planning
Internal auditors should develop and document an action plan for each audit function, including mission objectives, scope, timing and resources
allocated to it. The plan must take into account the strategies, goals and risks of the mission-related enterprise. Aalatbar.
2201. Planning Considerations
When you develop the audit task plan, the internal auditors in Aalatbar must take the following:
• The strategies and objectives of the activity under scrutiny and the means by which this activity controls its performance.
• The significant risks to which that activity is likely to be exposed, its objectives, resources and operations, in addition to the means by Khallha
Stay on the effects of these risks at an acceptable level.
• The adequacy and effectiveness of governance, risk management and control processes in this activity compared to one of the relevant control frameworks or models.
• Opportunities for significant improvements in governance, risk management and control processes in that activity.
2201. When planning a non-enterprise audit task, internal auditors must prepare a written agreement with them regarding
The objectives, scope and responsibilities of each party and other expectations, including restrictions on the distribution of the results of the mission and its documentation.
2201-Internal auditors need to be able to work on the objectives, scope and responsibilities of each party
.
and other customer expectations. And for important tasks, this must be written.
2210. Objectives of the internal audit function
You must specify the objectives of each internal audit task.
For risks related to the activity being audited. It must reflect
2210.1. Internal auditors must undertake an evaluation
Objectives of the audit function are the results of that assessment.
2210. In determining the objectives of the audit task, internal auditors must take into account that there may be significant errors or processes
Fraud or other non-compliance or risks.
2210.3. Adequate metrics are necessary to assess governance, risk management and controls. Auditors must make sure
To what extent the circuit and/or circuit board has established sufficient benchmarks to determine whether objectives and targets have been achieved.
If the measurements are sufficient, the internal auditors must use them in their assessment. Or if it's not enough, it should
Internal auditors to determine the measurement of the appropriate evaluation of the during of the discussion with the circuit and/or the circuit board.
Interpretation:
Types of evaluation measures can include:
• Internal (e.g. enterprise policies and procedures)
• External (e.g., regulations and laws imposed by official bodies)
• Pioneering practices (e.g. sector or profession guidance and guidance)

 

 

The Imams of the declarations

2210.1. The objectives of the Mission should address governance, risk management and control processes within the agreed scope
With the client of this task.
2210. The objectives of the Mission should be in harmony with the values, strategies and objectives of the Organization.
2220. Scope of the internal audit function
So that mission goals are achieved.
The scope of the audit task must be sufficient
2220.1. The scope of the audit function must include all relevant systems, documentation, personnel and tangible property, including
That are under the control of third parties.
2220. If, during a confirmation mission, significant opportunities for the provision of advisory services emerge, a special written agreement should be reached on
And that the results of this task will be exaggerated according to objectives, scope, responsibilities of the parties, and other expectations of the approved standards
With regard to the provision of services.
2220. In carrying out the tasks, internal auditors must ensure that the scope of the task is sufficient to achieve the agreed objectives
. If the internal auditors have any reservations about the scope of the task during their implementation, they should discuss these reservations with
The client involved in the task to determine whether they will continue with the task.
2220. During the mission, internal auditors must determine the controls that are pending with the objectives of these missions, as well as
They must be attentive to important oversight issues.
2230. Allocation of resources to the internal audit function
Internal auditors should identify appropriate and adequate resources alalzmah to achieve the objectives of the audit function in order to assess the nature and complexity
Each task, time constraints, and resources are available.
Interpretation:
The word "appropriate" in this standard means the combination of knowledge, skills and other competencies necessary for the success of the audit function. The word
 "sufficient " the amount of resources necessary to alalzmah the task of scrutinizing professional care.
2240. Work programme of the internal audit function
Internal auditors must develop and document work programs that meet the objectives of the audit task.
Of
2240.1. The programme of work must include procedures for identifying, analysing, evaluating and documenting information during the completion of the task. It must be
Approve the work program before it is executed, and also authenticate and immediately any modification to this program.
2240.1. The programme of work of the missions may vary in form and content depending on the nature of the task.

2300. Implementation of the internal audit function
Internal auditors must identify, analyze, evaluate and document sufficient information Alalzmah to achieve the objectives of the audit function.
2310. Identification of information
Internal auditors must identify sufficient, reliable, relevant, and useful information to achieve the objectives of the audit task.
Interpretation:
The information is "sufficient" when the information is exhaustive, compelling, and based on factual facts, so that a knowledgeable and discreet person can
Based on the same conclusions reached by the auditor. The information is "reliable" if it is the best that can be achieved
Using the appropriate application to do the task. The information is "relevant" if information supports the observations and recommendations of the audit task,
It was consistent with the objectives of this task. Information is useful if information helps the organization achieve its objectives.
2320. Analysis and valuation
Internal auditors must build their findings and the results of the audit function on the basis of appropriate analysis and assessment work.
2330. Documentation of Information
Internal auditors must document sufficient, reliable, relevant and useful information to support the findings and results of the audit function.
2330.1. The executive head of audit must monitor the issue of the documentation of the mission. He must get the circuit approval.
Bill enable third parties from
and/or legal counsel at AALKTDAA and that is the basis for the task documents. 2330.2. The executive head of audit shall determine the rules for the maintenance of mission files, irrespective of the means used
To store these files. These rules must be consistent with the orientations of the enterprise and any legislative or other requirements
Stuck.
2330.1. The executive head of audit must prepare policies to control the protection and preservation of the documentation of the Mission, as well as
regard to the question of empowering internal and external actors. These policies must be consistent with the Organization's orientations
Any legislative requirements or other requirements are pending.
2340-Al Sharaf on mission
Audit assignments must be properly performed to ensure that their objectives are achieved, quality is assured and the Task force is developed.
Interpretation:
The degree of Alalzmah is based on the skills and experience of internal auditors and the complexity of the audit function. It rests with the chief Executive officer of the audit
Full responsibility for the inspection task, whether performed by internal audit activity or by the body
external), but may appoint members of the experienced internal audit activity the review process. The appropriate aalthbatat are documented and saved
The function of completing the operation of the parties.

 

2400-Reporting of results
Internal auditors must report the results of the audit tasks.
2410. Reporting Standards
Audit mission Communications must include the objectives, scope and results of that task.
2410.1. The final notification of the results of the Mission shall include applicable guidelines and relevant recommendations and/or action plans.
Where appropriate, the opinion of internal auditors must be provided. And when any opinion is issued, Baalatbar must take the expectations of the circuit.
, the Council and other concerned parties, which must be provided with adequate, reliable, relevant and useful information.
Interpretation:
The checks at the audit task level can be ratings, conclusions, or other results descriptions. As
This function can be related to controls over a specific process, risk, or business unit. The formulation of these procedures requires the taking
The results and relevance of the task in Aalatbar.
2410.2. In the context of mission-specific communications, internal auditors are invited to mention the pathological disease of the subject under scrutiny.
2410. When communicating the results of the mission to Parties outside the organization, restrictions on the handling and use of such results must be reported.
2410.1. Communications concerning the progress of work and results of the functions are different in form and content, depending on the nature of the assignment.
And the needs of the customer concerned.
2420. Quality of communications
Communications must be valid, objective, clear, concise, constructive, complete and timely.
Interpretation:
Communications shall be valid when they are free of mistakes and distortions and shall be faithful to the facts and facts relating thereto. And be
Communications are objective when they are fair, impartial and unbiased and result from a fair and balanced assessment of all facts and facts
and circumstances. The notifications are clear when they are logical and easy to understand and include unnecessary technical observations and all information
Important and relevant. The communications are concise when they are at the core of the topic and avoid the necessary
and extensive detail and repetition. Communications are constructive when the task and Enterprise Client assists and leads to improvements when
Bind him. The notifications are complete when they lack anything that is necessary and essential for those who receive such notifications and are comprehensive
For all relevant and pertinent information and observations in support of the conclusions and recommendations. The notifications are timely when they are issued in
Timely and expeditious alalzmah according to the importance of the issue of communications, so that appropriate corrective proce can be taken
In light of them.

 

2421-Error and omissions
If any final notification contains an important error or omission, the executive head of internal audit shall cancel the information to the
All the parties who had received the notification.
2430. Use of the words:  "conducted in accordance with international standards for the professional Practice of internal auditing"
According to the case, the internal auditors could have performed their missions to the international standards for the professional practice of internal auditing only in
The results of the quality assurance and improvement Program support that.
2431-The case of non-compliance with the mission
Failure to adhere to the principles of professional or normative functions has prevented a specific task, and reporting on the results of the audit function must disclose
When it affects
Those on:
.
Tama
• The rules of the race or principles of professional secrecy or of standards that have not been adhered to
• Reasons for non-compliance.
• Impact of non-compliance on the audit function and on the results reported on the task.
2440. Dissemination of the results
The executive head of internal audit must communicate the results of the audit mission to the concerned parties.
Interpretation:
The CEO of Internal Audit is responsible for reviewing, approving, final notification of the task before sending it, and for deciding on the parties
. When he has these duties, he retains full responsibility. That will receive the final notification and about how to release the CEO audit
2440.1. The executive head of Internal audit is responsible for communicating the final results to the parties that can provide assurance that these
The results will receive the required attention.
2440.2. Unless there is a legal or legislative text or rules of procedure that are inconsistent with the above, the executive head of audit must before
Distribute the results to Parties outside the organization implement the following:
• Assess potential risks for the enterprise.
• Consultation with the Senior circuit and/or the legal counsel whenever necessary.
• Control the dissemination of results from during restrictions on their use.
2440.1. The chief Executive officer of Internal Audit is responsible for exaggerating the final results of the missions to the concerned authorities.
2440. During the implementation of the missions, governance, risk management and control issues may be note problematic. The more
It is essential for the institution to be brought to the upper circuit and the board.

 

2450-General College
When a holistic opinion is issued, it must be taken in Aalatbar strategies, goals, enterprise risks, high circuit expectations and the board
The circuit and other concerned parties. The overall public opinion must be informed by sufficient, reliable, relevant and useful information.
Interpretation:
The notification shall include:
• Scope of the task, including the period of time covered by the opinion.
• Limitations on the scope of the task.
• Take into account all projects related to that task, including any other provider of confirmation services.
• Information in support of the opinion.
• The risk or control framework or other measures used as a basis for overall public opinion.
.
• Public opinion, judgment or the
The rationale behind negative public opinion must also be clarified.
2500-Workflow Control
The executive head of Internal audit should establish a system for monitoring actions against the results that have been taken to the circuit, and keep
On this system.
2500. T. 1. The executive head of audit must establish a follow-up process to monitor and ensure that proce taken by the circuit
have been implemented in a high-profile manner or the high circuit has accepted the risk of no action.
2500. A. 1. The internal audit activity shall monitor the disposition of the results of the mission's findings in
The framework of the agreement with the customer concerned.
2600. Notification of acceptance of risks
The CEO of Internal Audit stated that the circuit had accepted an unacceptable level of risk for the organization, it must
When
Executive head of Internal audit to discuss with the upper circuit. If the executive head of Internal audit considers that the matter has not been resolved,
He must report the matter to the circuit board.
Interpretation:
Identify the risks that the circuit has accepted can be monitored during a confirmation or advisory task, or while the corrective proce implementation progress is monitored
Taken by the circuit following previous audit missions. or during other means. and solving the risk problem is not the responsibility of the CEO
For internal auditing.

 

Add Value
The internal audit activity adds value to the Organization (or parties concerned) when it provides objective and relevant assertions and contributes to the effectiveness
and efficient governance, risk management and oversight processes in the enterprise.
Adequate oversight
Adequate oversight will be achieved when the circuit is planned and organized (R)
It is reasonable that the enterprise's risks are confirmed.
Effectively and that the goals and objectives of the Foundation will be achieved efficiently and economically.
Confirmation Services
An objective screening process for the purpose of providing an independent assessment of governance, risk management and control processes. It is AALMTHLH on confirmation services
The tasks of financial auditing, disease, system and laws, system security, and Alalzmah care.
Council
is the highest governing entity in the institution (e.g. the circuit, supervisory board, Board of Governors or the mayor) is responsible for directing
and/or to identify the activities of the Foundation, and to hold accountable the top circuit of the enterprise. Although governance arrangements may differ from sector
To a and from one state to another, the council usually includes the circuit.
Members are not part. If the Council does not exist, the word "council"
In the criteria refers to a person or group entrusted with the business of corporate governance. In addition, the word "council" in the criteria could
refers to a committee or other body that has been delegated certain functions (such as the Audit Committee) by the governing entity of the enterprise.
Charter
The Internal audit Charter is an official document specifying the purpose and responsibilities of the internal audit activity. The Internal audit Charter determines
The location of the internal audit activity in the organization, which entitles the company to be able to work with the employees and to gain access to the tangible property, including
Performs audit tasks, and defines the scope of internal audit activities.
Executive head of Internal audit
The executive head of Internal audit is the role of a person in a high-level position responsible for the effective management of the internal audit activity
Of the Internal Audit charter
According to the non-international professional members of the internal auditing practice. The chief audit officer will have
The interior or the special Walmo'halt of the child are the appropriate professional certificates. The functional title of the executive head may vary
For internal scrutiny and responsibilities from one institution to another.
Principles of Professional practices
The principles of professional careers issued by the Society of Internal auditors are a set of principles relevant to the internal auditing profession and its practice,
Rules of conduct that describe
And also the limits of behaviors expected from internal auditors. The principles of professional practices apply to all parties 

and those providing internal audit services. The purpose of the principles of professional practices is to promote a high-quality culture in the profession
Internal audit in general.
The third
Adherence to واالجراءات policies, plans, laws, regulations, contracts or other requirements.
Conflict of Interest
All stuck be, or seem to be, not in the interest of the enterprise. Such a conflict of interest would be detrimental to an individual's ability to perform his or her duties
and responsibilities objectively.
Services
The provision of advice and services to a client, which is related to its nature and scope with this client
ET, and be meant to add
Value and improve governance, risk management and control processes, without any management responsibilities being undertaken by the internal auditor. Among AALMTHLH
These services provide advice, advice, facilitation and training.
Oversight
Any conduct or measure taken by the Department, the Board and others with a view to managing risks and increasing the likelihood of achieving the desired goals and objectives.
Adequate measures are being performed to provide reasonable assurance that the goals and objectives will be achieved. The circuit is bouncing and directing.
Control environment
The importance of oversight in the institution. The regulatory and structural control environment provides for the achievement of basic objectives
Are the positions and actions of the Council with regard
of the internal control system, which includes the components:
• The projector and the values,
• The philosophy and modus operandi of the circuit,
• Organizational Structure,
Identification of life and responsibilities,
Human resources policies and practices,
• Staff competence.
Oversight processes
(each part is designed and applied with the aim of ascertaining the manual and automated واالجراءات policies of the control framework, which
Keep the risks within the limits that the organization has to accept.

Did the basic for the professional Practice for internal auditing
The basic principle of the professional practice of internal auditing is the international professional basis for the practice of internal auditing, and it supports the effectiveness
Internal audit.
Audit functions
Any specific audit activities, tasks, or audits, and AALMTHLH on audit assignments: internal audit process, self-assessment control process,
Work, investigate or provide consultation. It can include an audit function or multiple activities to achieve a specific set of
Related objectives.
Mission objectives
Wide-ranging addresses developed by internal auditors determine the successes to be achieved from the audit function.
Opinion resulting from the audit function
Includes ratings, profiles, or other descriptions of the results of a specific audit function, which are related to
Aspects within the scope and objectives of the audit function.
Work programme of the Mission
followed during the implementation of the audit task with a view to completing the task plan.
Document showing Proce
External service
A person or company outside the institution with specialized knowledge, skills and expertise in a particular field.
El Hateal
Any unlawful act characterized by deception, secrecy or breach of trust. These workers depend on the use of the threat of violence or physical force. and committed
Actions by Parties or institutions with the intention of obtaining money, property or services, or to avoid payments, or to avoid loss
Services, or in order to ensure personal or commercial benefits.
Governance
A combination of processes and structures developed by the World Council, directing, managing and monitoring the activities of the Organization in order to achieve its objectives.
Women with disabilities

 

They are intended to weaken individual organizational and substantive factors and may include personal conflicts of interest, limitations
Scope, restrictions on the availability of personnel and access to property, and limitations on available resources
(funding).
The projector
Freedom from circumstances that threaten the ability of internal audit activity to discharge internal audit responsibilities in an unbiased manner.
Information Technology controls
Controls that support the management of workers and governance and provide general and technical control over information technology infrastructure such as applications,
Information, infrastructure, and resources.
Information technology governance
Consists of leadership, organizational structures, and processes, which ensure the support of information technology in Alstratigiat Enterprise and enterprise goals.
Internal audit activity
A Department, section or team of advisers or others who provide substantive and independent assurance and consultancy services with a view to adding value to the Enterprise
and improve its operations. This activity helps the enterprise to achieve its objectives by during systematic methodology to assess and improve the effectiveness of operations
Governance, risk management and oversight.
International professional Practice of internal auditing
Issued by the Assembly of Internal auditors. These official instruments consist of two types: guidance on a conceptual framework
Mandatory, and recommended guidelines to follow.
Have
Use the word  "must" in the criteria to specify a requirement to be followed unconditionally.
of substantive

 

Fly
Probability of an event having an impact on the achievement of psoriasis. The risk is measured in terms of their impact and probability.
Risk appetite
The level of risk that the enterprise is willing to accept.
Risk Management
A process for identifying, evaluating, managing and controlling possible events or situations with a view to arriving at a reasonable assurance about the achievement of the objectives of the enterprise.
Have to
Use the word  "should" in the criteria when the standard in question is expected to be adhered to circles if the circumstances justify such a criterion
Based on a professional rating.
Al Hammia
It is a bitter relative or a question depending on the context in which it is taken aalatbar including quantitative and qualitative factors such as the size and nature
The effect and the lingering effect of this or the matter. Professional judgement assists internal auditors when assessing the importance of the Moore or the issues that fall within
Related context.
Standard
Professional declaration issued by the International Standards Board for internal auditing, which sets out the requirements for implementing a wide range of audit activities
To assess the performance of internal audit work on the basis of the procedure.
Technology-based auditing techniques
Audit programs, audit programs, any automated proofing tools, such as public auditing software, test data generators, and a curse
Specialized, computer-aided auditing techniques.

https://cbi.iq/static/uploads/up/file-152750001752061.pdf

[Laid Back]

Good news.... More internal auditing means less or not corruption.!

 

The banking system continues moving forward.!

[Butifldrm]

8 hours ago, Butifldrm said:

The Central Bank of Iraq organizes a course on letters of guarantee

 

 May 28, 2018

The Central Bank of Iraq Branch of Basra, a training course for letters of guarantee for the auditors and auditors of the Integrity Commission in the province of Basra on Monday, 28/5/2018, and on the sidelines of the session between the Director General of Basra Branch, Dr. Qassim Rahif on the importance of letters of guarantee for banking and financial sector. Letters in addition to the instructions issued by the Central Bank of Iraq in this regard.

https://cbi.iq/news/view/708

 

Y'all maybe this a way to get the insurance companies to insure deposits, which would surely promote their banking inclusion theory!  The CBI is working it!

[Goggles]

These could be the last few items needed for these banks to mirror other international banks. Exciting times. The confidence the Iraqi people need to have faith in the banks and bring in their chunky money. 

[6ly410]

3 minutes ago, Goggles said:

These could be the last few items needed for these banks to mirror other international banks. Exciting times. The confidence the Iraqi people need to have faith in the banks and bring in their chunky money. 

I agree... it’s coming...