|The Internal Auditor should carry out its function according to the standards set by nationally or internationally recognised professional bodies including the Standards for the Professional Practice of Internal Auditing set by The Institute of Internal Auditors.|
This Guideline encourages the internal audit function to comply with the standards of recognised professional bodies, specifically the Standards for the Professional Practice of Internal Auditing set by The Institute of Internal Auditors (IIA).
Professional bodies establish industry-wide standards, practices, and codes of ethics and conduct. For example, the IIA provides a framework that defines how internal audit departments should be structured and operated.
An internal audit function that complies with the standards of these recognised professional bodies helps to ensure that internal audit procedures use the best auditing practices.
B. SGX Disclosure Guide
C. Related Rules and Regulations
D. CG Guides
- AC Guide 4.2: The Internal Audit Profession [Internal Audit].
- AC Guide Appendix 4C: The Internal Audit Profession [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)
- “Defining an effective internal audit” by Sovann Giang. (93KB)