06 Principles of Professional Ethics for Internal Auditors to Know

06 principles of professional ethics for internal auditors to know (Illustrated image)

In Article 9 of the Sample Regulation issued together with Circular 67/2020/TT-BTC, 06 specific principles of professional ethics for internal auditors are prescribed in detail:

1. Integrity: Internal auditors must perform their professional work with honesty, caution, and responsibility; comply with legal regulations and disclose necessary information as required by law and the professional standards of internal auditing; and refrain from participating in illegal activities or those that harm the reputation of the profession and the (name of the Ministry/Governmental body).

2. Objectivity: Internal auditors must demonstrate the highest level of professional objectivity in collecting, evaluating, and communicating information about the activities and processes being audited. They must provide objective assessments of all relevant situations and remain uninfluenced by personal interests or any external parties when making judgments and conclusions.

3. Professional Competence and Due Care: Internal auditors must apply their knowledge, skills, and professional experience in internal auditing. They must also act prudently, consistent with the applicable professional and technical standards.

4. Confidentiality: Internal auditors must respect the value and ownership of the information provided and not disclose this information without proper authorization unless disclosure is required by their professional responsibilities or by law.

5. Professional Behavior: Internal auditors must comply with laws and relevant regulations, and avoid any actions that could diminish their professional reputation.

6. The head of internal audit must have measures to monitor, evaluate, and manage to ensure that internal auditors adhere to the principles of professional ethics for internal auditing.

For further details, see Circular 67/2020/TT-BTC effective as of September 1, 2020.

Ty Na

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