Registered by
Ministry of Justice
Republic of Moldova
On October 17, 2018 No. 1373
of September 12, 2018 No. 153
About approval of National standards of internal audit
According to Art. provisions 29, litas. b) The law No. 229 of September 23, 2010 on the state internal financial control (The official monitor of the Republic of Moldova, 2010, 730) I ORDER to Art. No. 231-234,:
1. Approve National standards of internal audit (are applied).
2. Declare invalid the Order of the Minister of Finance No. 113 of 12.10.2012 about approval of National standards of internal audit (The official monitor of the Republic of Moldova, 2012, No. 237-241, the Art. 1378).
Minister of Finance
Octavian to Armash
Approved by the Order of the Minister of Finance of the Republic of Moldova of September 12, 2018 No. 153
1. National standards of internal audit (further – NSVA) are developed on the basis of the International professional standards of internal audit. Standards represent set of the requirements formulated in the form of the principles consisting from:
a) the main text - determination of the key regulations used for the organization of professional activity of internal audit and for activities efficiency evaluation which can be applied at the level of the organizations and at the level of certain workers around the world.
b) notes to interpretations, specifying terms or conceptual approaches used in Standards.
2. Standards are grouped in two categories: Standards of quality characteristics and Standards of activities. Standards of quality characteristics determine requirements to the public subject and the workers performing internal audit function. Standards of activities describe the work content of internal audit and set evaluation criteria according to which it is possible to estimate quality of accomplishment of services of internal audit. NSVA are developed by establishment of the applicable requirements to auditor missions for provision of guarantees noted by letter "A" (example, 1000. And 1), and on consultation, noted by the letter "C" (example, 1000. With 1).
3. NSVA are applied as internal auditors individually, and to activities of internal audit. All internal auditors bear responsibility for observance of the standards raising the questions of personal objectivity, competence and the professional relation to work, and also the standards determining requirements to accomplishment of the obligations by them. The head of activities of internal audit bears responsibility for observance of full compliance to Standards from aspect of activity of internal audit.
4. Importance of acceptance of NSVA consists in creation of single requirements of professional behavior of auditors, planning and holding missions of internal audit and reporting preparation by the received results. Compliance with NSVA promote completeness and quality of auditor activities, providing thereby trust of the internal auditor before users of audit reports.
5. For the purpose of these Standards the following determinations are determined:
activities of internal audit – activities of one division, auditor group or other internal auditors which provide guarantee and consultation, independently and objectively, to the value intended for increase and improvement of transactions of the public subject. Activities of internal audit help the public subject with achievement of its tasks by means of systematic and methodical approach which estimates and improve process performance of management, risk of management and control;
risk appetite - the risk level accepted by the public subject as acceptable;
follows - NSVA use the term "follows" when following to Standards in all cases is expected, except exclusive, proved by circumstances or professional judgment;
The card of internal audit – internal regulations of activities of internal audit which determine mission, competences, responsibility and scope of activities of internal audit determines the status of internal audit of the public subject, authorizes access to documents, property and the corresponding faces for the corresponding implementation of activities of internal audit;
The code of ethics of the internal auditor - represents set of the principles and rules of conduct which regulate activities of internal auditors / workers of activities of internal audit in the field of professional ethics;
the head of activities of internal audit - one of bosses responsible for effective management of activities of internal audit according to the NSVA obligatory elements. In different public subjects this position can be called differently, and/or can provide different obligations;
conflict of interest - the conflict between execution of post and private interests of the internal auditor as the individual who could influence in an inadequate way objective and impartial accomplishment of its obligations and responsibility according to the law;
compliance - compliance to requirements the politician, plans, procedures, regulations, regulations, contractual commitments and to other requirements;
control of information technologies - measures which support management and management of the public subject and provide general and special control concerning elements of information and technological infrastructure, such as software applications, information, infrastructure and personnel;
Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info
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