HC-8.1.12
All internal audit staff must:
(a) Apply the care and skills expected of a reasonably prudent and competent professional. Due professional care does not imply infallibility. Internal auditors having limited competence and experience in a particular area must be appropriately supervised by more experienced staff;
(b) Avoid conflicts of interest. Internal auditors appointed from within the licensee must not engage in auditing activities for which they have had previous responsibility before a one year “cooling off” period has elapsed;
(c) Act with integrity (being straightforward, honest and truthful);
(d) Be diligent in the protection of information acquired in the course of their duties and must not use it for personal gain or malicious action;
(e) Adhere to the code of ethics of the licensee , the institute of internal auditors and any other relevant professional or standard setting body;
(f) Collectively be competent to examine all areas in which the licensee operates; and
(g) Adhere to international professional standards established by the institute of internal auditors.
Added: July 2023