Attention: The URL for GoJ Internal Auditors Cummunity website is now online.mof.gov.jm/giac

GIAC Glossary of terms

We have provided explanations of some Internal Auditing terms. Please click on a highlighted letter below.

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I Terms

1. Independence
The freedom from significant conflicts of interest that may threaten the auditor’s objectivity. Such threats to objectivity must be managed at the individual auditor level, the engagement level, and the organizational level.

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2. Independence, of Access
The auditor must have unchallengeable right of access at all reasonable times to all records, transactions, assets, and to whatever explanations are required from employees to support his audit work.

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3. Independence, of Activity
The auditor should remain independent of the staff who operate the systems, to the extent that he or she should not audit areas where he or she was employed or had previous management responsibility.

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4. Independence, of Scope
The auditor should not be restricted in any way to what departments or areas he/she may audit.

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5. Institute of Internal Auditors (IIA)
The international professional association that is recognized as the internal audit profession?s leader in certification, education, research and technological guidance.

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6. Internal Auditing
Internal Auditing is an independent appraisal function established within an organization, which operates as a service to management by measuring and evaluating the effectiveness of the internal control system.

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7. Internal Control
Any action taken by the management, board and other parties to manage risk and increase the likelihood that established objectives and goals will be achieved.

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8. Internal Control, Questionnaire
Alist of questions, related to control objectives, used by internal auditors to assist in the evaluation of the internal control system of an organisation.

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