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He msut not take any gift
Acceptable under certain conditions even if it is not desirable. In case that the value of the gift is obvious and this act will not impair the independance and objectivity of the internal auditor. As per the IIA if those conditions are met the internal auditor can accept a gift.
As exemple, One of the staff got a promotion and invited all the staff to a restaurant. The internal auditor can accept the invitation.
Now If the same staff invites the internal auditor and his family for a weekend in his hotel, the internal auditor has to refuse.
So it depends of the conditions and the judgement of the IA.
of course no.
No,Because the Auditor may give a biased audit findings!
No Of Course, it will impair auditor independence.
Auditor is not supposed to accept any gifts from the client
Gifts are probably not allowable
BEING A PROFESSIONAL NOT TO DO SO CONCENTRATE ON WORK NOTHING TO BE OMMITTED DURING AUIDIT
Of course No, as per IMA princaiple the auditor can't accpet any kind of gifts from client as it may influence in his report and if any calim or worng happen later he will be judged as partner in this default
it will be mentioed as he know and didn't inform cause of the gift
The audit firm, those in a position to influence the conduct and outcome of the audit and immediate family members of such persons should not accept gifts from the audit client, unless the value is clearly insignificant. Those in a position to influence the conduct and outcome of the audit and immediate family members of such persons should not accept hospitality from the audit client, unless it is reasonable in terms of its frequency, nature and cost. The audit firm should establish policies on the nature and value of gifts and hospitality that may be accepted from and offered to audit clients, their directors, officers and employees, and should issue guidance to assist partners and staff to comply with such policies. In assessing the acceptability of gifts and hospitality the test to be applied is whether it is probable that a reasoned and informed third party would conclude that the objectivity of the auditors is likely to be impaired."
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