Introduction
As a profession, it is important that we conduct ourselves in a manner that reflects the trust and confidence we seek from the public. For this reason, IIA-Australia members expressly commit to be bound by its Member Code of Conduct (the Code), as well as undertaking continuous learning. The IIA-Australia’s role is to support members in their governance, risk and assurance professional journey. However, where there is an allegation of an infringement against the Code, we have a Member Conduct Complaints Process which is available to the public.
The Code and the Global Internal Audit Standards
The IIA-Australia Member Code of Conduct sets out the behaviour expected of members in the application of their duties. It is binding on all members.
IIA-Australia is part of the global professional affiliation under The IIA Inc (The IIA). Accordingly, the Code incorporates the principles and standards of Ethics and Professionalism as set out in the Global Internal Audit Standards (Domain II), as issued by The IIA.
In addition to the requirements set out in Domain II, there are 3 additional principles guiding conduct – acting in the public interest, creating value in endeavours and enhancing the reputation of the profession.
Member Conduct Complaint Process
Allegations of a breach of the Code by a Member will be taken seriously and, where proven, sanctions against the Member may be applied. All reports of infringements against the Code will be evaluated and administered according to the IIA-Australia Member Conduct Complaint Process.
Principles
Principles and Rules of Conduct – IIA-Australia specifically
-
The Public Interest
IIA-Australia Members have a responsibility to consider the public interest, which includes the legitimate interests of those who rely on the objectivity and integrity of assurance, such as employees, investors, the business community, regulators, and government.
They will:
1.1. acknowledge the legitimate interests of all stakeholders who rely on the objectivity and integrity of the assurance and advisory services provided.
1.2. consider the public interest and reasonable public perception in all decisions and actions.
1.3. recognise that the level and nature of public interest may vary between organisations and adjust their approach accordingly.
1.4. adhere to the ethical requirements of this Code when serving the public interest.
-
Value Creation
The purpose of the governance, risk and assurance profession as a whole is to create value for the organisation they serve; balancing objectivity and integrity with operational, commercial, and cultural dynamics.
They will:
2.1. acknowledge the sometimes-competing tensions between the objectivity and integrity of assurance and the organisation's operational, commercial, and cultural dynamics.
2.2. consider both the real and perceived value created by their actions and engagements.
2.3. avoid conflicts arising from carrying out multiple functions that could impair value creation or objectivity.
2.4. adhere to the ethical requirements of this Code in all value-creating endeavours.
-
Professional Reputation
IIA-Australia Members uphold the reputation and standing of the governance, risk and assurance profession by conducting themselves with dignity, responsibility, and integrity in all professional matters. They actively contribute to public confidence in risk and assurance practice, including internal auditing through ethical behaviour, professional excellence, and responsible engagement with stakeholders.
They will:
3.1. avoid any conduct that could reasonably be perceived as discreditable to the profession.
3.2. promote ethical practices and professional standards within their organisations and the wider business community.
3.3. not commit an indictable offence.
3.4. shall mentor and support colleagues in upholding the profession’s values and standards
Principles and Rules of Conduct based on the Global Internal Audit Standards
-
Integrity
The integrity of IIA-Australia Members establishes trust and thus provides the basis for reliance on their judgement.
They shall:
1.1 perform their work with honesty, diligence and responsibility.
1.2 observe the law and make disclosures expected by the law and the profession.
1.3 not knowingly be a party to any illegal activity, or engage in acts that are discreditable to the profession or to the organisation.
1.4 respect and contribute to the legitimate and ethical objectives of the organisation.
-
Objectivity
IIA-Australia Members exhibit the highest level of professional objectivity in gathering, evaluating and communicating information about the activity or process being examined. They make a balanced assessment of all the relevant circumstances and are not unduly influenced by their own interests or by others in forming judgements.
They shall:
2.1 not participate in any activity or relationship that may impair or be presumed to impair their unbiased assessment. This participation includes those activities or relationships that may be in conflict with the interests of the organisation.
2.2 not accept anything that may impair or be presumed to impair their professional judgement.
2.3 disclose all material facts known to them that, if not disclosed, may distort the reporting of activities under review.
-
Confidentiality
IIA-Australia Members respect the value and ownership of information they receive and do not disclose information without appropriate authority unless there is a legal or professional obligation to do so.
They shall:
3.1 be prudent in the use and protection of information acquired in the course of their duties.
3.2 not use information for any personal gain or in any manner that would be contrary to the law or detrimental to the legitimate and ethical objectives of the organisation.
-
Competency
IIA-Australia Members apply the knowledge, skills and experience needed in the performance of internal auditing, governance, risk and assurance.
They shall:
4.1 engage only in those services for which they have the necessary knowledge, skills and experience.
4.2 continually improve their proficiency and the effectiveness and quality of their services.
4.3 perform internal auditing services in accordance with the International Professional Practices Framework, including the Global Internal Audit Standards.