Registered external auditors must have the knowledge and skills to perform their function and should be honest. There are also a number of other attributes or fundamental principles of ethical behavior, which all auditors should have and these are identified in professional external auditing standards issued by IRBA as follows: · integrity · objectivity · professional competence and due care · confidentiality · professional behavior The following actions taken by registered external auditors are example of non-compliance with one or more principles listed above; Question 7 7.1 Briefly explain each of the principles of ethical behavior listed above. 7.2 Identify, with a brief explanation which of the fundamental principles have not been complied with in each of the situations above.(Each situation may amount to non-compliance with more than one principle) 7.3 Discuss the similarities and differences, if any, between the code of ethics for external auditors (IRBA) and the code of ethics for internal auditors (IIA).
Registered external auditors must have the knowledge and skills to perform their function and should be honest. There are also a number of other attributes or fundamental principles of ethical behavior, which all auditors should have and these are identified in professional external auditing standards issued by IRBA as follows:
· integrity
· objectivity
· professional competence and due care
· confidentiality
· professional behavior
The following actions taken by registered external auditors are example of non-compliance with one or more principles listed above;
Question 7
7.1 Briefly explain each of the principles of ethical behavior listed above.
7.2 Identify, with a brief explanation which of the fundamental principles have not been complied with in each
of the situations above.(Each situation may amount to non-compliance with more than one principle)
7.3 Discuss the similarities and differences, if any, between the code of ethics for external auditors (IRBA) and
the code of ethics for internal auditors (IIA).
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