Technet

MEMORANDUM

Date: June 20, 2012
To: Chief Executive Officer
From: Vice President, Internal Audit
RE: Independence and Objectivity

TechNet, Inc. operates its business in a highly private-enterprise(a) environment both externally and immanently. It is crucial and essential that on that point is a clear understanding about our independence and objectivity when engaging on our internal audit operations. This clear understanding of our independence and objectivity can reassure any concerns elevated by individual divisions in a company that is internally competitive.

Our internal audit department is in full conformism with the International Standards for the Professional Practice of Internal Accounting (IIA). In compliance with the Attribute Standards 1100 1130 listed in the IIA, internal audit moldiness be free lance and the internal auditors must be object lens. The IIA subtend independence as the freedom from conditions that threaten objectivity or appear to threaten objectivity. Audit independence is basically a state of mind to always stay objective and do not refer to physically being independent from the organization they work for.



The IIA also defines objectivity as an guileless mental attitude and avoidance of conflicts of interest, which allows internal auditors to perform engagements in such a manner that they have an honest spirit in their work product and that no significant fiber compromises are made.

Independence and objectivity is achieved through organizational status of the internal audit persona, the degree of objectivity maintain by internal auditors, and authority and responsibility given to internal auditors.

ORGANIZATIONAL STATUS
Organizational status of the internal audit function indicates that the Chief Audit Executive (CAE) and internal audit aggroup must periodically report functionally to the board or audit committee and administratively to the CEO. In order to go over that the internal audit team that consists of members who belongs to a...If you want to get a full essay, order it on our website: Orderessay



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