Book "Internal auditing assurance & advisory services 4th edition"

Discussion questions #2 chapter 2

Q: Refer to appendix A, "The IIA's code of ethics," and answer the following questions:

a. Why is it important for the internal audit profession to have a code of ethics?

b. How do the code of ethic's principles differ from rules of conduct?

c. Who must abide by the code of ethics?

d. What are the ramifications of breaching the code of ethics?

Discussion question #2, chapter 3.

Q2: Discuss why it is important, from a governance perspective, to have independent outside directors on a board of directors.