Core Principles

The Office of Internal Audit and Management Advisory Services adheres to the standards and guidelines published by the Institute of Internal Auditors (IIA), the Association of Certified Fraud Examiners (ACFE) and the Information Systems Audit and Control Association (ISACA).

Every five years, the Office of Internal Audit undergoes an external quality assessment in accordance with IIA standards. The office received the highest possible rating from the IIA review teams during our 2021, 2016, 2011, and 2006 assessments.

The Office of Internal Audit and Management Advisory Services applies and upholds the following principles:

Integrity

The integrity of internal auditors establishes trust and thus provides the basis for reliance on their judgment.

Internal auditors…

  • Perform their work with honesty, diligence, and responsibility.
  • Observe the law and make disclosures expected by the law and the profession of internal auditing.
  • Will not knowingly be a party to any illegal activity, or engage in acts that are discreditable to the profession of internal auditing or to the organization.
  • Respect and contribute to the legitimate and ethical objectives of the organization.
Objectivity

Internal auditors exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. Internal auditors make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgments.

Internal Auditors…

  • Will not participate in any activity or relationship that may impair or be presumed to impair their unbiased assessment. This participation includes those activities or relationships that may be in conflict with the interests of the organization.
  • Will not accept anything that may impair or be presumed to impair their professional judgment.
  • Will disclose all material facts known to them that, if not disclosed, may distort the reporting of activities under review.
Confidentiality

Internal auditors respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.

Internal Auditors…

  • Will be prudent in the use and protection of information acquired in the course of their duties.
  • Will not use information for any personal gain or in any manner that would be contrary to the law or detrimental to the legitimate and ethical objectives of the organization.
Competence

Internal auditors apply the knowledge, skills, and experience needed in the performance of internal auditing services.

Internal Auditors…

  • Will engage only in those services for which they have the necessary knowledge, skills, and experience.
  • Will perform internal auditing services in accordance with the International Standards for the Professional Practice of Internal Auditing.
  • Will continually improve their proficiency and the effectiveness and quality of their services.
Due Professional Care

Internal auditors apply due professional care in planning and performing internal audit services.

Internal Auditors…

  • Conform with the Global Internal Audit Standards.
  • Plan and perform audit services with diligence, judgement, and skepticism.
  • Perform audits in the best interests of those receiving the audit services.