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Internal Audit Policy Manual
"Need to create an Internal Audit Policy Manual for our newly established fintech company in Singapore, focusing heavily on IT security audits and cryptocurrency compliance, to be implemented by March 2025."
1. Introduction and Purpose: Outlines the objectives and scope of the internal audit function and manual
2. Authority and Organization Structure: Defines reporting lines, independence requirements, and organizational positioning of internal audit
3. Professional Standards and Ethics: References to IIA standards, code of ethics, and professional conduct requirements
4. Audit Methodology: Details the audit process, including planning, execution, reporting, and follow-up procedures
5. Risk Assessment Framework: Methodology for identifying, assessing, and prioritizing audit areas
6. Quality Assurance: Standards for maintaining audit quality and continuous improvement
1. IT Audit Procedures: Specific procedures for IT audits - recommended for organizations with significant IT operations
2. Fraud Investigation Procedures: Protocols for conducting fraud investigations - recommended for organizations requiring specific fraud investigation capabilities
3. External Audit Coordination: Procedures for coordinating with external auditors - recommended for listed companies or those requiring external audits
1. Audit Charter: Formal document defining the purpose, authority, and responsibility of internal audit
2. Audit Report Templates: Standardized templates for various audit reports and communications
3. Risk Assessment Matrix: Template for risk assessment and prioritization
4. Audit Program Templates: Standard audit programs for common audit areas
5. Compliance Checklist: Checklist of relevant regulatory requirements and standards
6. Document Retention Schedule: Guidelines for retention of audit documentation
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