CONTENTS

PREFACE

AUTHORITY STATEMENT

Paragraphs

Application.................................. 1-2

Operative Date................................ 3

Introduction.................................. 4-7

Scope and Objectives of Internal Audit................ 8

Relationship Between Internal Audit and the External Auditor. 9-11

Understanding and Preliminary Assessment of Internal Audit. 12-17

Timing of Liaison and Coordination.................. 18-19

Evaluating the Work of Internal Audit................ 20-23

Conformity with International Standards on Auditing...... 24

Appendix 1: Internal Audit – Understanding and Preliminary Assessment Questionnaire