|The internal audit function should be staffed with persons with the relevant qualifications and experience.|
This Guideline sets out the competency requirements of the internal audit staff.
The internal audit function plays an important role in the company as it provides independent and objective assurance about, and advice on, the internal controls and operations of the company.
Its value proposition is therefore only as good as the skills it brings to the company.
The audit team of many organisations is small, and it can be a challenge to ensure that the team can deal with diverse matters and risks. Regardless, this Guideline emphasises the need for the internal audit team to have adequate skills and experience to undertake the work.
B. SGX Disclosure Guide
C. Related Rules and Regulations
D. CG Guides
- AC Guide Appendix 4C: The Internal Audit Profession [Internal Audit].
- AC Guide Appendix 4H: The Chief Audit Executive [Internal Audit].
E. Related Articles
- “Internal audit effectiveness” by Ng Siew Quan and Francis Wan. (211KB)
- “Internal audit - Is outsourcing a practical consideration?” by Chris Liew. (134KB)