Nursing homework help. Internal Auditing and Management Services
Listed below are the requirements to successfully complete the project:
Sarbanes-Oxley Act was enacted in 2002 and there was new rule put in place for Auditor Independence. This requires External Auditor to be independent from the client. Similarly the Institute on Internal Auditors (IIA) provides guidance for Internal Auditors to be Independent and Objective – Standard 1100 – Independence and Objectivity.
As a student of audit and as future accountants it is very crucial to understand the difference between the two types of Independence.
- Provide detailed analysis of Independence according the Sarbanes-Oxley Act (SOX, 2002).
- Provide detailed analysis of IIA Standard – 1100.
- Compare the two standards.
- In your words how do you think Internal Auditors can maintain Objectivity and Independence in their report?
- Why is it important for Internal Auditors to be Independent?
Students are required to follow the APA style format to write their reports. It is required that the students use citation, in accounting citations play an important role. Hence, citations are required to successfully complete this project. The reports should be minimum 3 pages, typed and double spaced.