Auditing Standards

Internal & Performance Auditing

David R. Hancox, CIA, CGFM

Auditing Standards and Ethics – Week 3 ©

Auditing Standards

  1. Professional Standards and Standard Setting Bodies
    • PCAOB
    • AICPA
    • IIA
    • Comptroller General of the United States

     

  2. PCAOB
  3. The Public Company Accounting Oversight Board oversees the audit of public
    companies that are subject to the securities laws, and related matters,
    in order to protect the interests of investors and further
    the public interest in the preparation of informative, accurate,
    and independent audit reports for companies the securities of which
    are sold to, and held by and for, public investors.
  4. AICPA
    • Generally Accepted Auditing Standards (GAAS)
      • General Standards – personal qualities an auditor should possess
      • Field Work Standards – how the audit should be conducted
      • Reporting Standards – form and content of the auditors report
    • Statements on Auditing Standards (SAS)
      • Amplification and interpretation of the original standards
  5. IIA
  6. Comptroller General of the United States

Ethics

Codes of Professional Ethics

CPA CGFM CIA CISA CFE

Lockheed Martin Corporation’s corporate on-line ethics and information center

The Institute for Global Ethics’ promotes public discourse and practical action around significant ethical issues. It’s mission is:

  • Discovering and defining the global common ground of shared values.
  • Establishing clear structures for moral reasoning and ethical decision making.
  • Promoting the teaching of Ethical Fitness in the practices of private, institutional, and civic virtue.
  • Analyzing trends, gathering and disseminating information, and developing new knowledge about global ethics.
  • Being a model organization in effectiveness, outreach, efficiency, and ethical action.

This site tries to reduce the oversupply of fear and alienation in the workplace by meeting the pent-up demand for constructive communication about what’s happening on the job.

Complete Guide to Ethics Management: An Ethics Toolkit for Managers

Business ethics and fraud

 

Homework

  1. Read: Chapter 3 and 4 in Government Performance Audit in Action.
  2. Find an article in the Wall Street Journal that deals with an ethical problem. Prepare a paper on the ethical issue and discuss its implications as defined in one of the web sites in Complete Guide to Ethics Management: An Ethics Toolkit for Managers All written reports must be e-mailed to the instructor at [email protected]
  3. Begin research on understanding the Roslyn School District