P3 IA assurance and consultancy services

Created by: mumuna
Created on: 21-05-13 11:51


	P3 IA assurance and consultancy services
	Similarities Authority - Charter Scope - Wide Nature - Independent Opinion Report - Senior managment or audit committee E.g. Finance, IT, Compliance, Security	Differences Authority - Term of Reference Scope - Limited Nature - workable solution Report - Client but also SM/Board if key risks E.g.counsel, advisory, facilitation & training
	Overall comparison The similarities is that both can be done by audit as long included in chare and clear management remains responsible to risk managements and particularly regarding consultancy that there are safeguards to avoid doubt around IA independence. Thus standard 1130 state IA must refrain from reviewing activities for which they had previous responsibilities - which is impaired if responsibilite was held in previous year as per IIA, ensure awareness of IIA standard regarding code of ethics on objectivity, for secondments from biz avoiding placing individual on audit of area they are going to return to.

P3 IA assurance and consultancy services

Similarities

Authority - Charter
Scope - Wide
Nature - Independent Opinion
Report - Senior managment or audit committee
E.g. Finance, IT, Compliance, Security

Differences

Authority - Term of Reference
Scope - Limited
Nature - workable solution
Report - Client but also SM/Board if key risks
E.g.counsel, advisory, facilitation & training

Overall comparison

The similarities is that both can be done by audit as long included in chare and clear management remains responsible to risk managements and particularly regarding consultancy that there are safeguards to avoid doubt around IA independence. Thus standard 1130 state IA must refrain from reviewing activities for which they had previous responsibilities - which is impaired if responsibilite was held in previous year as per IIA, ensure awareness of IIA standard regarding code of ethics on objectivity, for secondments from biz avoiding placing individual on audit of area they are going to return to.

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P3 IA assurance and consultancy services