The Internal Auditing Policy and Procedure describes the Internal Audit process in order to ensure compliance with applicable standards and regulations pertaining to internal control and financial reporting. Audit frequency and extent are determined by the complexity of the process and the risk of deficiency, among other factors. The Procedure applies to all financial/accounting operations. (24 pages, 4292 words)

Activities Covered in the Internal Auditing Policy Procedure

• Internal Audit Background
• Internal Audit Planning
• Conducting the Internal Audit
• Internal Audit Reporting
• Internal Audit Follow-up

References Used in the Internal Auditing Policy Procedure

• International Standards for the Professional Practice of Internal Auditing, Institue of Internal Auditors (IIA), Jan., 2007
• IIA Code of Ethics, Institute of Internal Auditors, 2000
• Internal Audit Charter (version 1.0), Bank for International Settlements (BIS), March 20, 2003
• Public Company Accounting Reform and Investor Protection Act of 2002(USA)

Forms Included in the Internal Auditing Policy Procedure

• Audit Schedule Form
• Audit Plan Form
• Audit Checklist Form
• Audit Opinion Form
• Final Audot Report Form