Policy Category 1: Transparency and Impartiality

Policy Category 1: Transparency and Impartiality

1. Conflict of Interest Prevention Policy

• Auditors must avoid situations that give rise to conflicts of interest, whether personal, family-related, or arising from any other relationship.
• Auditors must immediately report and disclose any such risk to their supervisor if involvement is identified.
• Auditors must sign an annual declaration confirming compliance with this policy.
• Auditors must refrain from performing audit work in cases where a conflict of interest exists.

2. Independence Policy and Principles

• Auditors must perform their work free from interference and without conflicts of interest.
• Auditors must not perform managerial or directive functions, nor take part in the routine operating processes of the auditee.
• Auditors must not design, establish, or install internal control procedures.
• Auditors must not audit work or projects for which they held responsibility within the preceding year.

3. Objectivity Policy

• Auditors must remain impartial and must not take part in any activity or relationship that could give rise to bias.
• Auditors must disclose all material facts identified; failure to do so may distort the audit report.
• If circumstances arise that prevent an auditor from performing work independently or objectively, such limitations must be disclosed to the relevant parties.

4. No-Gift Policy

• Internal auditors are strictly prohibited from accepting any form of gift or benefit that undermines, or may undermine, the professional judgment of an internal audit practitioner.