IIA Standard 1112 - CAE Roles beyond Internal Auditing

[@mubashirhassan8920]

Can CAE drafts policies & procedures?

[@auditstrategy8249]

kzbin.info/www/bejne/pJ6an5yXe8mprrM

[@auditstrategy8249]

The simple answer is yes but with safeguards and organizational lack of maturity also may be one of the reason that auditor accepts these roles but again with safeguards. Refer to video for details.

[@mkleng]

Hey Tauseef, this is really interesting. I’ve long been thinking.. what’s the difference between CAE, Head of IA and Director of IA? Are the same role? Or are they all separate roles that report hierarchically to each other?

[@auditstrategy8249]

thanks for liking the video. CAE is a formal name of Head of IA as per standards, however it varies from organization to organization. For Director IA I have seen practice of one level lower than CAE, or also interchangeably used for HOIA for some organizations. You may see reporting line to get an understanding for any particular case.

[@mkleng]

@@auditstrategy8249 Thank you, Tauseef.. very helpful. Do you mind sharing the standard section where mentioned CAE is formal name of HOIA? Thank you

[@auditstrategy8249]

@@mkleng thanks for question, if you read standards genrally the IIA uses word Chief Audit Executive. Whether you refer to series 1000 or 2000 i.e. attribute or performance standards, you will see this across.

[@azamcomplex]

Can Internal Auditor develops policies and procedures for a business?

[@auditstrategy8249]

Yes there can be situations where IA may be asked to perform this task particularly in less mature organisations for examples startups where system and processes are being developed, however then IA cannot perform assurance role in this situations unless completely relieved from such duties because this impairs the Objectivity... the standard 1112 covers this comprehensively

[@azamcomplex]

Thanks for your great explanation…