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Internal Audit Policy Manual
"Need to create an Internal Audit Policy Manual for our newly established fintech company in Singapore, focusing heavily on IT security audits and cryptocurrency compliance, to be implemented by March 2025."
1. Introduction and Purpose: Outlines the objectives and scope of the internal audit function and manual
2. Authority and Organization Structure: Defines reporting lines, independence requirements, and organizational positioning of internal audit
3. Professional Standards and Ethics: References to IIA standards, code of ethics, and professional conduct requirements
4. Audit Methodology: Details the audit process, including planning, execution, reporting, and follow-up procedures
5. Risk Assessment Framework: Methodology for identifying, assessing, and prioritizing audit areas
6. Quality Assurance: Standards for maintaining audit quality and continuous improvement
1. IT Audit Procedures: Specific procedures for IT audits - recommended for organizations with significant IT operations
2. Fraud Investigation Procedures: Protocols for conducting fraud investigations - recommended for organizations requiring specific fraud investigation capabilities
3. External Audit Coordination: Procedures for coordinating with external auditors - recommended for listed companies or those requiring external audits
1. Audit Charter: Formal document defining the purpose, authority, and responsibility of internal audit
2. Audit Report Templates: Standardized templates for various audit reports and communications
3. Risk Assessment Matrix: Template for risk assessment and prioritization
4. Audit Program Templates: Standard audit programs for common audit areas
5. Compliance Checklist: Checklist of relevant regulatory requirements and standards
6. Document Retention Schedule: Guidelines for retention of audit documentation
Authors
Internal Control
Audit Charter
Audit Committee
Audit Evidence
Audit Finding
Audit Plan
Audit Program
Audit Report
Audit Risk
Audit Scope
Board of Directors
Chief Audit Executive
Compliance
Control Environment
Control Objectives
Due Professional Care
Engagement
Ethics
Follow-up
Fraud Risk
Governance
Independence
Internal Control Framework
Materiality
Objectivity
Professional Judgment
Quality Assurance
Reasonable Assurance
Risk Assessment
Risk Management
Risk Matrix
Risk Register
Sampling
Significant Risk
Standard Operating Procedures
Subject Matter Expert
Testing
Working Papers
Workpaper Documentation
Authority and Independence
Access Rights
Confidentiality
Professional Standards
Code of Ethics
Audit Planning
Risk Assessment
Audit Execution
Documentation Requirements
Reporting Requirements
Quality Assurance
Professional Development
External Relationships
Conflict of Interest
Record Retention
Data Protection
Audit Resources
Performance Measurement
Follow-up Procedures
Communication Protocols
Escalation Procedures
Technology Usage
Fraud Investigation
Compliance Requirements
Review and Updates
Governance Structure
Roles and Responsibilities
Quality Control
Continuous Improvement
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