Code of Professional Conduct
All leading professional bodies, such as the Chartered IIA, have a code of conduct to guide the member and raise the level of trust and confidence of the public in the profession. All members must express their commitment to the code when they join the Chartered IIA and to subsequent changes to the code which may be agreed from time to time. The rules and procedures for dealing with any allegation of infringement against the code are described in the Professional Complaints Procedures. This code and the procedures are available to the public.
Chartered Institute of Internal Auditors
The Chartered IIA is a professional association focused exclusively on internal auditing in the United Kingdom and the Republic of Ireland and supporting, promoting and training the professionals who work in it.
The objects of the Chartered IIA are to promote and develop the profession of Internal Auditing and to foster and maintain investigations and research into the best means and methods of developing and applying such a profession and to encourage, increase, disseminate and promote knowledge, education and training, standard setting and the exchange of information and ideas in respect of all questions relating thereto or connected therewith.
The purpose of the Chartered IIA is:
- to champion and lead the internal audit profession for the benefit of our members, organisations and society.
Applicability of the Code and relationship with Global body
This Code applies to all members of the Chartered IIA. Members of the Chartered IIA are also members of The Institute of Internal Auditors Inc, the global professional body. This Code incorporates Domain II of the Global Internal Audit Standards (Ethics & Professionalism), issued by the global body. Therefore, by applying the Code, members are also applying the principles and standards of Ethics and Professionalism as set out in the Global Internal Audit Standards.
Purpose of the Code of Professional Conduct
The Code of Professional Conduct sets out the elements of Domain II of the professional standards and ethical considerations, which the Chartered IIA requires from members and shall be binding on all members of the Chartered IIA. It contains two principles adopted by the Chartered IIA, the overriding principle of professionalism - acting in the public interest - and the principle of treating people fairly, as well as the Global Internal Audit Standards' principles and standards of Ethics and Professionalism.
Enforcement
For Chartered IIA members, breaches of the Code of Professional Conduct will be evaluated and administered according to The Chartered IIA's Professional Complaints Procedures. The fact that a particular conduct is not mentioned in the code of professional conduct does not prevent it from being unacceptable or discreditable and therefore, the member liable to disciplinary action.
Principle of Professionalism - acting in the public interest
Acting in the public interest involves having regard to the legitimate interests of those who rely upon the objectivity and integrity of the assurance about governance and the management of risk, including control, that the internal audit profession provides to support the orderly functioning and propriety of organisations. These include employers, employees, investors, the business and financial community, clients, regulators and government. This reliance imposes a public interest responsibility on the internal audit profession.
Professional internal auditors should take into consideration the public interest and reasonable and informed public perception in deciding the actions to take, bearing in mind that the level and nature of the public interest varies between organisations depending on their role, size, systemic importance or public prominence.
Therefore, a professional internal auditor's responsibility is not exclusively to satisfy the needs of an individual employer or client. In acting in the public interest a professional internal auditor should observe and comply with the ethical requirements of this Code.
Courtesy and respect
Professional internal auditors should treat all people fairly without prejudice on any grounds.
Principles from Domain II - Ethics and Professionalism
1. Integrity
Internal auditors demonstrate integrity in their work and behaviour.
2. Objectivity
Internal auditors maintain an impartial and unbiased attitude when performing internal audit services and making decisions.
3. Competency
Internal auditors apply the knowledge, skills, and abilities to fulfill their roles and responsibilities successfully.
4. 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.
5. Professional Care
Internal auditors apply due professional care in planning and performing internal audit services.