JUNE - 2012
(SIA) 3, Documentation
This standard lays down the documentation
requirements during the course of an internal
audit. Internal audit documentation means
the record of audit procedures performed,
including audit planning as discussed in the
Standard on Internal Audit (SIA) 1, Planning
an Internal Audit, relevant audit evidence
obtained, and conclusions the auditor
reached (terms such as working papers
or work papers are also sometimes used).
Thus, documentation refers to the working
papers prepared or obtained by the internal
auditor and retained by him in connection with
the performance of his internal audit.
(SIA) 4, Reporting
The purpose of this Standard on Internal Audit
(SIA) is to establish standards on the form and
content of the internal auditors report issued
as a result of an internal audit performed
by an internal auditor of the systems,
processes, controls including items of
financial statements of an entity. The internal
auditors report should contain a clear written
expression of significant observations,
suggestions/ recommendations based on
the policies, processes, risks, controls and
transaction processing taken as a whole and
managements responses.
(SIA) 5, Sampling
The purpose of this Standard on Internal
Audit (SIA) is to establish standards on the
design and selection of an audit sample
and provide guidance on the use of audit
sampling in internal audit engagements.
The SIA also deals with the evaluation of the
JUNE - 2012
Theme
25
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