Responsibilities and authorities of internal auditors and the persons in charge of internal audits (the Chief of Audit Executive)?
Responsibilities and authorities of internal auditors and the person in charge of the internal audit department (the Chief of audit executive) need to be specified in the internal audit charter of each enterprise. However, you can refer these contents to the Articles 23 and 24 of Decree 05/2019/ND-CP as follow:
The necessary and sufficient conditions to become an internal auditor:
“Article 11. Eligibility standards of internal auditors as follows:
1. Hold undergraduate degrees in majors meeting audit requirements, acquire sufficient and updated knowledge about assigned internal audit sectors.
2. Have at least 5 years’ working experience in the industries relevant to their training majors or at least 3 years’ experience in working for their current employer or at least 3 years' experience in working in the audit, accounting or inspection field.
3. Acquire general knowledge and understanding about laws and business operations of audited units; have competence in collecting, analyzing, assessing and consolidating information; have knowledge and skills related to the internal audit.
4. Have not yet been subject to any discipline in a warning or severer form that is likely to be imposed on any violation arising from economic or financial administration or accounting activities or, at present, be not subject to disciplinary actions.
5. Meet other standards prescribed by audited units. “
Beside the above requirements, candidates should:
- have an excellent sense of compliance, independence, and objectivity, as these are the core qualities of internal auditors.
- have suitable personalities for the job that requiring effective interaction with many people and in many situations.
- participate in internal audit training programs to build a good foundation especially regarding the internal audit processes and audit methodology.