PPF Professional Practice Framework from IIA

Describe basic principles that represent the practice of internal auditing as it should be;

Provide a framework for performing and promoting a broad range of value-added internal audit activities;

Establish the basis for the evaluation of internal audit performance; and

Foster improved organizational processes and operations.

Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Principles Internal auditors are expected to apply and uphold the following principles:

Integrity The integrity of internal auditors establishes trust and thus provides the basis for reliance on their judgment.

Objectivity Internal auditors exhibit the highest level of professional objectivity in gathering, evaluating, and communicating information about the activity or process being examined. Internal auditors make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgments.

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.

Competency Internal auditors apply the knowledge, skills, and experience needed in the performance of internal auditing services.