Professional Documents
Culture Documents
ACT 175P - MT
1.
a. The Institute of Internal Auditors offers a comprehensive certification portfolio for
internal auditors that can serve as the key to unlocking their next opportunity within the
profession; enhancing the credibility and adding clout to their resume.
The certifications that are supported by IAAP are Certified Internal Auditor
(CIA), Certified Government Auditing Professional (CGAP), Certified Financial
Services Auditor (CFSA), Certification in Control Self-Assessment (CCSA), and
Certification in Risk Management Assurance (CRMA) certification.
In a certain certification, like Certified Financial Services Auditor, it could cost for
about 495 US dollars or Php 24,000.00+ .
6. Character Reference
7. Work Experience (Certified Financial Services Auditor)
c. They actually have a certain certification for those who would like to attain as
Certified in the Governance of Enterprise IT (CGEIT). They listed advantages of having
this kind of certifications like, why are they much preferred by employers, how it affects
the skills positively and how will it help you to earn higher salary ahead of the others,
paralleled to career growth.
systems; and the increasing incidence of security breaches in volume, size, value and
number have been a cause of concern in corporate and government circles alike. The
risk assessment and a risk mitigation process using a team approach. It provides a
survey of industry practices, and it is a good guide for developing a framework for IT risk
And be among the 1,900 Filipinos enjoying the CIA designation and CIAs in the
Philippines who made it to the ranks of CIA exam awardees worldwide!
The IIA-P offers public run seminars that will cater to the audit professionals needs for
continuing professional development. IIA-Ps public seminars meet the training needs
for Junior Internal Auditors, Audit Supervisor, Audit Manager, and Chief Audit Executive.
This will help new auditors grasp and execute the basic principles in internal
auditing. It will equip them of the basic knowledge that they need to successfully deliver
their engagements.
IIA-Ps trainings will guide the Audit Supervisors in leading their audit
engagement and assist them on their transition from being a staff to a leader. This also
includes developing skills in audit planning, risk assessment, report writing, and
presentation skills.
Training for Audit Managers
These trainings focus on audit planning, managing the IA activity, and client
relationship that also includes marketing the value of IA to other parts of the business
organization. This module includes the training of new Managers transition to their new
role.
IIA-P with its able and well-experienced facilitators will share tips and techniques
on how to resolve issues and challenges faced by the IA. These also cover promoting
the internal audit function to the board of directors and management. IIA-P offers quality
trainings with the aid of our highly competent speakers that are equipped of their
experience and real-life knowledge that will help you learn the necessary skills and
proficiency that an audit professional should have.
f. Their closest chapter is located in Valero St, Salcedo Village, Makati City.
g. The IIAP offers student membership as well and it could cost them at least Php
1,500.00 plus they could also avail the Internal Auditor Member Subscription for a
separated fee costing Php 1,700.00
2.
Certain relationships between audit firms and the companies they audit are not
permitted. These include:
Direct or material indirect business relationships. Audit firms may not have any
direct or material indirect business relationships with the company, its officers,
directors or significant shareholders. Thus, audit committees should consider
whether the company has implemented processes that identify such prohibited
relationships.
d. With Sarbanes-Oxley, internal audit will require even more resources, including
those specifically attuned to financial reporting disclosures. Fortunately, this time
internal audit is likely to encounter strong commitment by management in ensuring
appropriate resources are allocated to evaluating the internal controls process. Thus,
internal audit will need to determine the additional effort required by Sarbanes-Oxley
responsibility and agree on these resource needs with management and the Audit
Committee. However, coverage of the non-financial reporting related reviews
should not be sacrificed. Furthermore, internal audit should consider accessing
specialized skill sets in Sarbanes-Oxley externally. Although most organizations
are just beginning to get a handle on Sarbanes-Oxley, others might be more
ahead of the curve and can offer tremendous insight.
e. To enhance audit efficiency and effectiveness, financial auditors have in the past
used a variety of methods that will no longer be acceptable for integrated audits of
public companies. In some financial statement audits, auditors chose to perform only
substantive procedures rather than testing controls, or a mixture of the two. In non-
authoritative guidance the AICPA specifically sanctioned cycle rotation as a way to test
controls. This involved testing controls in several of an entitys transaction cycles while
doing a transaction walk-through to confirm the absence of control changes in the
remaining cycles. Since auditors now must report comprehensively on the effectiveness
of managements internal control over financial reporting on an annual basis, cycle
rotation is no longer acceptable in public company audits.