Week1 Assignment
Visit the websites for the Institute of Internal Auditor and the Association of Certified Fraud Examiners: http://www.theiia.org http://www.acfe.com
In particular, read the code of ethics for both organizations at: http://www.theiia.org/guidance/additional-resources/ippf-processes/ http://www.acfe.com/about/cfe-rules.asp?copy=ethics
1. How do the codes complement each other?
2. Provide three other notable points of information from each site that either you learned for the first time or have found useful in your current work role.
3. Lastly, both organizations have standards. Why are standards important in these fields?
Write-up your comments in a Word document, and submit it in the Week 1 Assignment Dropbox.
Answers
1. How do the codes complement each other?
Both codes of ethics are quite similar, they have a lot of points in common. The code of ethics for the IIA and the code of ethics for the ACFE have in common the following elements (principles):
Integrity:
IIA refers to it as the principle that establishes the trust, the basis for the reliance on their judgment.
ACFE refers to it by saying that a CFE should exhibit the highest level of integrity in the performance of the duties and task assigned.
Objectivity:
IIA refers to it by saying that internal auditors make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgments.
ACFE express that they shall not engage in any activity which would constitute a conflict of interest.
Confidentiality:
IIA states that they do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.
ACFE express that its members shall not reveal any confidential information obtained during a professional engagement without proper authorization.
Competency:
IIA says that their members will apply the knowledge, skills, and experience needed for their performance. ACFE states that its members
In particular, read the code of ethics for both organizations at: http://www.theiia.org/guidance/additional-resources/ippf-processes/ http://www.acfe.com/about/cfe-rules.asp?copy=ethics
1. How do the codes complement each other?
2. Provide three other notable points of information from each site that either you learned for the first time or have found useful in your current work role.
3. Lastly, both organizations have standards. Why are standards important in these fields?
Write-up your comments in a Word document, and submit it in the Week 1 Assignment Dropbox.
Answers
1. How do the codes complement each other?
Both codes of ethics are quite similar, they have a lot of points in common. The code of ethics for the IIA and the code of ethics for the ACFE have in common the following elements (principles):
Integrity:
IIA refers to it as the principle that establishes the trust, the basis for the reliance on their judgment.
ACFE refers to it by saying that a CFE should exhibit the highest level of integrity in the performance of the duties and task assigned.
Objectivity:
IIA refers to it by saying that internal auditors make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgments.
ACFE express that they shall not engage in any activity which would constitute a conflict of interest.
Confidentiality:
IIA states that they do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.
ACFE express that its members shall not reveal any confidential information obtained during a professional engagement without proper authorization.
Competency:
IIA says that their members will apply the knowledge, skills, and experience needed for their performance. ACFE states that its members