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GIAC Glossary of terms

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

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M Terms

1. Management Institute for National Development (MIND)
An Executive Agency of the Government of Jamaica, and an accredited tertiary level training institution. It is the main public sector management training organisation, however, its range of courses is also available to private sector managers.


2. Management Letter
A letter or memorandum in which an auditor communicates to the auditee his views or findings on matters arising from the audit.


3. Materiality
An expression or relative significance or importance of a particular matter in the context of the organisation as a whole. A matter is material if its omission or misstatement would reasonably influence the decisions of the auditee.